Purpose

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.
 
 

Decision

As Cabinet Member for Economic Development, I
agree, on behalf of Kent County Council to:
 
(i)       ENDORSE the Kent and
Medway Economic Framework;
 
(ii)       SUPPORT Kent and
Medway Economic Partnership in its implementation; and
 
(iii)      DELEGATE to the Director
Growth and Communities to take any necessary actions, including but
not limited to entering into contracts or other legal agreements as
required to implement this decision.