Agenda item

To receive a dashboard of data to provide an indication of the state of the economy in North Tyneside.

The sub-committee was presented with data which provided an indication of the state of the economy in North Tyneside.  The data included the numbers of people claiming Universal Credit, the town centre vacancy rate, the number of new business start-ups, the number of companies in distress, out of work benefit claimants, levels of earnings and qualifications within the population and the number of apprenticeships.

In examining the data the sub-committee examined in more detail the number of vacant properties in North Shields and the anticipated impact of implementation of the North Shields Masterplan.

Members considered the impact of rising costs on businesses and the risk this would lead to an increasing number of businesses in distress and closures. It was suggested that the sub-committee may wish to examine this topic in more detail to gain a better understanding of the cost pressures facing local businesses and the capacity of the Authority and the North of Tyne Combined Authority to support businesses and prevent failures. The Chair undertook to work with the Deputy Chair and relevant officers to formulate a proposal on how the sub-committee might undertake such a scrutiny exercise and report the outcome to a future meeting.

The Chair reported that the Cabinet Member for Inclusion, Employment and Skills was to be invited to attend its next meeting and he suggested that the issues raised relating to the continuing high rates of people claiming Universal Credit and the proportion of people without basic numeracy and literacy skills could be discussed in more detail at that meeting.

The sub-committee also asked for the following supplementary information:

a)     the data in relation to Universal Claimants, broken down into three categories to show the trends in the total number of people on Universal Credit, the numbers in work and the number searching, planning or preparing for work;

b)     details of the location of employability events and activity to demonstrate that they are accessible to the areas where the greatest numbers of people are claiming universal credit;

c)     the number of vacant retail units in Killingworth be presented with a comparison to the total number;

d)     that the year 2020 be disregarded from the data relating to start up businesses and sole traders because of the distorting effect of Covid-19 pandemic;

e)     data relating to the number of business closures in the borough

f)      the total number of small, medium and large enterprises in the borough so that the figures relating to business in distress can be put into perspective; and

g)     an indication of the density of businesses in each ward to identify those areas where there is a greater proportion of businesses in distress.

It was agreed that (1) the data relating to the state of the economy in North Tyneside be noted;

(2) future reports incorporate the requests for supplementary information as set out above; and

(3) the Chair and Deputy Chair, in conjunction with relevant officers, consider ways in which the sub-committee could effectively examine the cost pressures facing local business and the support available to prevent failures and report the outcome to a future meeting.