Wednesday, February 06, 2013

Providing for Edinburgh’s economic growth and prosperity

Its budget-week at the Council, and as mentioned on a few occasions now, Edinburgh's Capital Coalition has six main themes running-through its 53-pledges: you can see all the detail of those pledges here, along with a commentary on how delivery is progressing.

One of the main themes is to provide for Edinburgh’s economic growth and prosperity - and this week's upcoming Council Budget, for 2013/14, has several commitments to help do just that.

The detail is within the main motion, but here are the key points:

  • Continued support for youth employment by maintaining funding of £1 million for the Edinburgh Guarantee - this investment will further capitalise on the important and productive work of the Edinburgh Guarantee to date.  The Council will continue to work with city businesses to create opportunities and improve career prospects for the city's young people.
  • The investment of £800,000 in grant funding to employability services in the city - four strands of the economic strategy working in tandem will result in sustainable growth from investment in jobs.
    By continuing to fund employability services, we will continue to help unemployed people into work
    Getting people into work has economic and social benefits for the individual and the city as a whole. This is part of a wider £6m plus strategy for long term jobs securing the economic future of the city.
  • Development of a Strategic Investment Fund of £7.5million and instructing the Chief Executive to report back to Council on 22 August 2013 on how this will be established - business growth and investment play important roles in stimulating city economies. The right infrastructure needs to be in place to achieve business growth and investment. By creating an urban investment fund, this can fund crucial infrastructure development and can also act as leverage to co-invest with private developers.

As mentioned before, all of this - and much more - will now be debated/decided at the special Council Meeting at 10am this Thursday, 7th February, when t
he final 2013/14 Council Budget will be approved.

You can watch the whole meeting here.

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