A new economic strategy for Southwark

Closed 21 Jan 2022

Opened 15 Nov 2021

Contact

Local Economy Team

LocalEconomy@southwark.gov.uk

Feedback updated 19 Jan 2024

We asked

We asked for your thoughts on a draft version of our new economic strategy.

You said

You agreed that the strategy was seeking to address the right challenges. In most cases, you felt the missions and objectives we had set ourselves would address these challenges. However, many were unsure and in a few cases you felt the draft missions and challenges weren’t the right ones.

Some of the key things you asked us to address and/or provide clarity on were:

  • What we are seeking to achieve, and how we will deliver this
  • How we will work with our partners and communities
  • How we will support businesses and residents facing pressures, including immediate pressures like the Cost of Living Crisis
  • How residents facing the greatest barriers to economic opportunity will be supported to overcome these barriers
  • How the strategy aligns with other council ambitions, like our ambitions for housing and climate change

We did

Our new economic strategy, informed by this public consultation, is available here: https://www.southwark.gov.uk/economic-strategy.

In the first part of the strategy we set out our vision for Southwark’s economy by 2030. Here you will find information on what needs to be done and why, as well as how the strategy aligns with other council ambitions. The strategy then details how we will deliver our vision. Here we explain things like how we will work through our partners and communities to realise our vision, how residents and businesses will be supported to overcome the pressures they face, and the steps we will take to ensure all our residents have access to the opportunities our strong economy provides.

As explained on page 8 of the strategy, the council and its partners will be developing a Delivery Plan that will set out our delivery commitments for the economy and holds us to account on progress. 

Overview

Over the past decade Southwark's economy has grown and prospered, with more jobs, more businesses and more people in work. We have cemented our reputation as a business friendly borough, with over 70,000 new jobs created. Over the same period, working with our partners we have supported over 10,000 residents into work and created 4,000 apprenticeships.

Nonetheless, we are acutely aware of the persistent economic and social inequalities in Southwark, which have been highlighted further and sadly reinforced by the COVID-19 pandemic.  Through Southwark Stands Together we have explored with our communities the impact of long-standing structural inequalities on Black, Asian and minority ethnic residents and businesses in Southwark and are transforming the way Southwark designs and delivers services, while championing an anti-racist agenda. The climate emergency also now demands that we reimagine what economic wellbeing means for present and future generations. 

We want Southwark's economy to be fairer, greener and more resilient. With so much still to be done, the council is now beginning a review of its economic strategy. We are inviting your views on the challenges currently facing our economy and the steps we need to take to achieve our ambition of a fair, green and resilient economy in Southwark.

Why your views matter

We welcome views from all our stakeholders and communities, particularly those with lived experience of working within the Southwark economy, as a business, resident, educational or community organisation.  Each contribution will help to shape the council's response to the challenges facing Southwark's economy for the coming years.

What happens next

Thank you for all your contributions to this consultation. The responses will be analysed and will help to shape the development of a new economic strategy for Southwark.  

Areas

  • All Areas

Audiences

  • Anyone from any background

Interests

  • Local Economy and Business