The Isle of Wight Council’s Cabinet will be asked to adopt a new strategy that promises to prioritise council spending in favour of Island business and wider economic value.
The new draft commercial strategy is being presented by Councillor Chris Jarman, cabinet member for strategic finance, transformational change and corporate resources.
Ultimately, it means the Council will look to spend money on-Island first.
Cllr Jarman explains his proposed strategy:
“This is a framework for change, increasing efficiency and effectiveness, and ultimately improving the Island’s economy.
“Like many councils across the country, we face financial challenges, and we expect that to continue. So to serve the Island’s needs, we need to get more money coming into the council through becoming more commercial.
“This commercial strategy means we can achieve future financial sustainability for the authority, and continue to give high quality services to residents.
“We want to be more business-minded, tapping into the talents and skills in our workforce, our partners and contractors, and within our community.
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“Instead of taking a purely financial approach to commercialisation, the strategy will guide the authority towards a culture of municipal entrepreneurship. This is not all about profit. There are other types of commercial activity that will be highly beneficial now and in the future.
“So we have three themes in our strategy: increasing the council’s resources by savings and efficiencies; tackling climate change at the heart of all decisions; and increasing community wealth and social value.”Community wealth building is key to the new strategy, and so, for example, we propose to maximise procurement and spending to benefit Island-based local partners and businesses, which will feed money back into the Island to in turn generate more local wealth.
“This is a document that recognises the changes that we have already put in place, and sets the scene for much more transformative work in the future.
“If we adopt this strategy, I expect to see many new and innovative projects and plans coming forward as a result. The outcome will be a better economy for the Island, and a more vibrant and locally-focussed community of businesses and organisations serving the Island’s community.”
Good to hear, but as always, would like to see the details
The only way to guarantee more local wealth is to stop increasing council tax.
Shovelling money towards local partners and businesses, many of which are owned by high net worth individuals, doesn’t guarantee local wealth.
Instead of pie in the sky ideas how about getting the £150 out to those are entitled to it.
Fyi…i got mine yest!
Pure hot air.
Nothing will change, and as always those who cost the most, be it the druggies, drunks, squiffy, unemployable, criminals, the vile, and those who breed the most, will be the ones ‘ring fenced’ to have their lives fully catered for, yet pay in nothing, but cost society the most.
Cut those who never have worked, or currently don’t and likely never will contribute into the pot, lifestyles, to the very bone.
Such use children as a shield to avoid work and avoid paying knowing due to the shield, they will always be housed, and fully kept.
My flabber is mildly gasted; surely this strategy should have been in place years ago. Any island should put its own people and businesses ahead of others. Obviously not to the point of total isolation from the north island, but priorities must lean towards local. We are asked to protect the island’s businesses by buying local; so should the Council.
Reading between the lines, they’re going to be looking after themselves and their chums from the lodge.
And how many times have we heard this version from other Councils. It never seems to happen and when it does it only appears to benefit certain areas or groups. So before mega bucks are thrown down the drain can they enquire of the opinions of the electorate? If vast investments can they ensure they have the backing and knowledge of experts before purchase? Can they show how it will improve life for Islanders?
Which of these new initiatives will be the most expensive, which will deliver net zero benefit to islanders and which will be impossible to actually measure in any meaningful way but will give the council a thousand more reasons not to deliver things or to stop you doing things you enjoy ? It is of course climate change
I stink , therefore I am.