What counts as a good city economy?
That was the question asked by New Start Magazine, the Centre from Local Economics Strategies and the New Economics Foundation a year ago when it set out to take a deeper look at alternative economies in ten UK cities.
This excellent partnership has just produced its report on what counts towards good city economies.
Off to Birmingham for launch of @CLEStweet @NEF @FProvFoundation @NewStartMag #goodcityeconomies pic.twitter.com/wU1lmnIonG
— Neil McInroy (@nmcinroy) September 27, 2016
Representatives from many of the projects celebrated in the report – including Black Country Make in Birmingham, Granby 4 Streets in Liverpool, IndyCube in Cardiff – gathered in Birmingham to discuss how to make good city economics mainstream.
Karen Leach from Localise West Midland said that their research showed economies with a higher proportion of local businesses were better for social inclusion.
Neil McInroy from the Centre for Local Economic Strategies noted that the Shadow Chancellor John McDonnell gave a nod to Preston’s work on local procurement a day earlier at the Labour Party conference in Liverpool.
“Economies with more locally owned businesses score higher for social inclusion,” Karen Leach @LocaliseWM #goodcityeconomies
— Far Nearer (@far_nearer) September 27, 2016
Meanwhile Rachel Laurence from the New Economics Foundation said that good city economies don’t just address poverty by providing work. She notes that when people say they want a job, they mean they want an income. Incomes can be from:
- Work
- Profits from business activity
- Rent from physical things like land or houses
One of the defining differences of those living in poverty in the UK is that they have no other means of income than their work.
What are the ingredients of #goodcityeconomies? @CLEStweet @NewStartMag @NEF have some ideas pic.twitter.com/Cac5ppjN9c
— Far Nearer (@far_nearer) September 27, 2016
The meeting ended with a discussion on what one policy change would make a difference to people trying to do this work.
Mark Hooper from IndyCube said that we need to hear more stories of people doing this work, which acts as a catalyst: “The more stories we hear, the more we are inspired.”
