Issue details

Proposed decision:

The Cabinet Member for Economic Development is asked, on behalf of Kent County Council to:

(i)            endorse the Kent & Medway Economic Framework;

(ii)          support Kent and Medway Economic Partnership (KMEP) with its implementation and,

(iii)         delegate to the Director Growth & Communities to take any necessary actions, including but not limited to entering into contracts or other legal agreements, as required to implement the decision.

Reason for the decision

To support Framing Kent Future commitments and ambitions for economic growth and levelling up. 

To secure additional external investment in Kent to meet KCC’s priorities.

Background

The last ‘county-wide’ economic strategy to be prepared in Kent and Medway was the Economic Renewal and Resilience Plan, endorsed by Kent and Medway Leaders and KMEP in August 2020. This was developed in the context of the Covid-19 pandemic and was intended to support recovery from the economic shock. It helped to inform partners’ responses to the immediate challenges facing businesses and employees and set out a series of principles for longer-term recovery.

Following the ending of public health measures in 2021/22, the Renewal and Resilience Plan reached the end of its natural life, and a closure and lessons learnt report was prepared in early 2022. To replace the Renewal and Resilience Plan, Kent and Medway Leaders agreed in late 2021 to develop a new, longer term Economic Framework.

In parallel, the South East Local Enterprise Partnership (SELEP), through which substantial Government resources for economic development have been channelled over the past decade, will close at the end of March 2024, and will be replaced by alternative arrangements in Kent and Medway. The Government anticipates that an economic strategy will be developed to support these new arrangements. The Kent and Medway Economic Framework will fulfil this expectation.

Options (other options considered but discarded)

Do nothing: There is no statutory requirement to develop an Economic Framework, and KCC’s activity in support of economic development could be taken forward within the scope of Framing Kent’s Future. However, the absence of an up-to-date Kent and Medway economic strategy, developed in conjunction with the Kent Districts and Medway Council, could jeopardise the case for future public investment into the county. Having a Framework in place will also support a medium to long term integrated approach to economic growth and joint working with partners.

Reduced scope: A Framework could have been developed with a shorter time horizon, taking account of current spending pressures. However, since the purpose of the Framework is to ‘make the case’ for longer term investment in Kent, this would be of no real benefit, and would mean that further work will be required in the next couple of years.     

How the proposed decision supports Framing Kent’s Future 2022-2026: (https://www.kent.gov.uk/about-the-council/strategies-and-policies/corporate-policies/our-council-strategy)

The framework supports Priority 1: Levelling Up - to support the Kent economy to be resilient and successfully adapt to the challenges and opportunities it faces over the coming years.

The framework will help to make the case for future Government funding and devolved powers. It will also provide a basis on which partners in local government, business, education, and the voluntary sector can work together in support of common objectives.

How the proposed decision supports: Securing Kent’s Future: democracy.kent.gov.uk/documents/s121235/Securing Kents Future - Budget Recovery Strategy.pdf

Objective 3 of Securing Kent’s Future notes that while KCC seeks to maintain discretionary services that add value, it will be rigorous in assessing value and affordability. The Framework does not commit KCC to any specific non-statutory service delivery. But it provides a basis through which external funding may be secured.