Stockton-on-Tees Borough Council

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Cabinet Decision: 14th May 2009
Title of Item/Report
Economic Climate Update Report
Record of the Decision
Consideration was given to a report that provided Members with an overview of the current economic climate, outlining the effects that this was having on Stockton Borough, the mitigations already in place and those being developed in response to this

A report was submitted to Cabinet in December 2008, which set the scene of the economic downturn, and the effects that the global recession and economic climate were having on businesses, rising unemployment, and mortgage repossessions.

The monthly update report enabled a focussed account to be made of the changes to economic circumstances, the direct impact that this may be having on the Borough, and the responses and mitigations either in place or being developed to support businesses and residents. A summary was provided to members noting the economic changes and both the positive and negative of this that had occurred since their previous update on 16th April 2009.

RESOLVED that:-

1. The report be noted.

2. The work being undertaken be supported.
Reasons for the Decision
The global economic slow down was having a significant affect on local businesses, residents and Council Services.
Alternative Options Considered and Rejected
None
Declared (Cabinet Member) Conflicts of Interest
Councillors Mrs McCoy and Nelson each declared a personal, non-prejudicial interest in respect of this item as a result of their membership of Stockton District Advice & Information Service.
Details of any Dispensations
N/A
Date and Time by which Call In must be executed
By Midnight, Friday, 22nd May 2009
Attachment

Date of Publication: 19 May 2009


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