To note and comment on the Draft Economic Prosperity Strategy document to inform a final document which will return to Committee in January 2023.

The Committee received a report from the Economic Development Manager and Senior Economic Development Officer on a draft economic prosperity strategy for 2023-2028.  This document contained a detailed action plan.  Also attached was the SBC Local Economic Assessment for 2021.

The 2023-2028 strategy referred to recent and anticipated challenges, such as Bexit, Covid-19, inflation and the current energy crisis, and stressed the importance of Spelthorne’s preparation for those areas over which it had control.  It was an evidence-based assessment of the local economy.  The Committee noted that no other local council produced such a detailed plan.

There was discussion of working with other local authorities and Surrey and whether this directly benefited businesses and residents in Spelthorne.  The Spelthorne Business Forum would be invited to assist.  The Committee made suggestions for improvements to the strategy, including whether the £5,000 current spending limit for budget holders, intended for use with local suppliers could be increased to £10,000.  

The Committee thanked the Economic Development Manager who was retiring at the end of the year.  The Committee noted the strategy had been designed with existing resources.  If resource levels changed within the Economic Development team re-prioritisation of objectives might be required.

It was agreed that the Chair and the Economic Development Manager would write to Surrey County Council to seek information on plans to improve educational attainment and qualifications in the Borough.

The Committee resolved agree that a draft economic prosperity strategy was required, and that a final version of the strategy should come back to Committee on 12 January 2023.