Local Economic Assessments
The Government has introduced a bill called the Local Democracy, Economic Development and Construction Bill into Parliament and it is currently wending its way through the parliamentary process. If it meets the current expected timetable then the Bill should come into force in April 2010. It will introduce the need for local planning authorities to carry out local economic assessments as part of the evidence base when they prepare their Local Development Frameworks.
The Government has also issued draft guidance on how to carry out a local economic assessment to assist Council in getting to grips with this new requirement. It proposes that the assessment should achieve the following:
- Provide a sound understanding of the economic conditions of the area and how they affect residents and businesses
- Indicate the comparative strengths and weaknesses of the local economy and the nature and form of local economic challenges and opportunities
- Identify the local economic geography, including the economic linkages between the area being assessed and the wider economy
- Set out the local constraints to economic growth and employment and the risks to delivering sustainable economic growth
