Leeds City Council has launched an economic recovery framework which sets out the approach to how Leeds will respond to the economic impact of Covid-19. The framework was outlined to executive board on Wednesday 21 October.
The coronavirus crisis has had an unprecedented impact on the world economy and forecasts predict it may take until between 2021 and 2024 to return to pre-crisis levels. Alongside this, the region’s economy will face significant milestones in the coming year, including the UK leaving the EU single market, and West Yorkshire Devolution.
The shape of recovery will not be linear, and the recent outbreaks across the North have highlighted the continued risk of further shocks and the need to be vigilant to local pressures. As the framework was being written a second wave of the virus resulted in new lockdown measures and restrictions.
Responding to the economic impacts of Covid-19 will of course be a challenge. This is why we are proposing an approach to recovery rather than a plan, as we can then be flexible and adapt quickly to changing circumstances and pressures whilst striving to build more resilience into our economy.
The recovery approach is centred on the need to:
- Respond. Where required, continue to take immediate actions to support businesses, workers and the economy as has been done since the lockdown in March 2020.
- Reset and Renew. Ensure we understand the challenges and opportunities that we face in recovery and that we have a clear focus and direction on the projects and partnerships that will address them.
- Build Resilience. Maintain a long term view of our aspirations to deliver inclusive growth, address the climate emergency and be the best city for health and wellbeing. Ensure that our decisions lead us towards these goals.
As our approach adapts to changes, we also want people to share their ideas and therefore we would like the recovery framework to be the start of a city-wide conversation to ensure that the recovery reflects the views and experiences of all across Leeds.
Leader of Leeds City Council, Councillor Judith Blake, said:
“The pandemic presents unprecedented challenges for Leeds, including for everyone living in, working in and visiting our city. However, the response to this crisis from people all across Leeds has been inspiring.
“We have witnessed communities and organisations pull together like never before. Be that the thousands of community volunteers providing help and support to our most vulnerable citizens, as well as businesses, anchor institutions and the Third Sector coming together and adapting what they do to help the city respond to the crisis.”
The council’s ambition remains to create a strong economy set within a compassionate city and we will refresh our Inclusive Growth Strategy when the time is right after the immediate crisis has passed.
The Economic Recovery framework is intended to be a starting point for a city conversation.
For media enquiries contact:
Leeds City Council
If you plan to buy a product or service for your business in the next 12 months please complete the form below.