Stockton-on-Tees Borough Council

Big plans, bright future

View Cabinet Decision Record

Cabinet Decision: 30th September 2010
Title of Item/Report
Economic Climate Update Report
Record of the Decision
Members considered a report that provided an overview of the current economic climate, outlining the effects that this was having on Stockton Borough, and the mitigations already in place and those being developed in response to this.

Positive trends included Corus signing a memorandum of understanding with Thai steel company, SSI, to acquire the Teesside Cast Products operation at Redcar. Although the deal would take a few months to be fully complete it would see a significant number of new jobs, as well as safeguarding hundreds more.

Negative trends included the NHS Stockton announcing that it was set to make 80 staff redundancies over the next 2 months.

Members were provided with a range of economic indicators for the Borough , sub region, region and nationally. Details of economic support measures and this Council's responses were provided.

RESOLVED that the content of the report and support work undertaken to date be noted.
Reasons for the Decision
The global economic slow down is having a significant affect on local businesses, residents and Council Services.
Alternative Options Considered and Rejected
None
Declared (Cabinet Member) Conflicts of Interest
None
Details of any Dispensations
Not applicable
Date and Time by which Call In must be executed
By no later than midnight on Friday 8 October 2010.
Attachment

Date of Publication: 04 October 2010


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