Agenda item

Report of the Director of Innovation & Growth.

The Committee received a report of the Director of Innovation and Growth concerning the Recovery Taskforce.

The Director introduced the report by stating that the Square Mile faces major challenges but also big opportunities going forward with problems to address and preparations needed for the medium-term, hence the introduction of the Recovery Taskforce. It was reported that the Taskforce had worked quickly over the past six months to bring together teams across the Corporation and draw on key existing Corporation Plans. The report had an ambitious aim – to ensure that the Square Mile is the world’s most innovative, inclusive and sustainable business ecosystem and an attractive place to work, live and visit. The Director highlighted that this was part of a broad package of Corporation activity to tackle the impact of the pandemic on businesses with each having an important and different role to play including the COVID Recovery Fund, the Safe Return to the City promotional activity, a re-opening campaign and this Recovery Taskforce.  The Director explained that, whilst this report did not comprehensively list every action being taken, it looked at what the priorities and focus should be to drive economic growth and ensure long-term success for the Square Mile.   

He highlighted that there were three thematic areas – World-Class Business Ecosystem (in other words thriving businesses with innovation and growth opportunities) Vibrant Offer (retail, hospitality, culture, heritage and recreation) and Outstanding Environments (the right work spaces, environment and infrastructure).

Finally, the Director went on to speak of next steps and stated that the report was approved by the Policy and Resources Committee last week. If this Committee were also to agree it, the next steps would involve a wider Members Briefing on 26 April to fully inform all members of the Court of the plans and encourage them to act as ambassadors across the Square Mile, London and beyond. Next would be a public launch on 27 April with a panel and a short film.

RESOLVED – That the Committee:

·         Approve the recommendations of the Recovery Taskforce (Appendix 1)

·         Approve the proposed governance arrangements for the ongoing implementation of the recommendations (paragraph 21)

·         Note that any additional funding required for implementing the recommendations would be subject to approval by the relevant Committees.