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  4. About the council
  5. Islington Together
  6. Our priorities
  7. Community Wealth Building
  8. Community Wealth Building strategy
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Community wealth building objectives

More information about what we plan to do to achieve our community wealth building ambitions, to make Islington's economy fairer.

Our goals and what should be the outcomes for each one from our Community Wealth Building strategy - read the overview, reasons for it and plan for Islington's local economy. 

Objectives

1. Economic Wellbeing

Economic wellbeing is having financial security now and in the future, and being able to make economic choices.

Our objective is to tackle systemic poverty - when people are without enough money to run their household and participate in their community, and other related issues, because of how our economic system and society works - and inequalities in the job market while building skills and opportunity for a new economy. We will do this with by achieving these outcomes:

  • Resilient: Provide a safety net to support residents in severe financial hardship, maximise income for vulnerable, low-income households, and support residents to tackle problem debt and manage their household finances. 
  • Skilled: Create clear skills pathways that lead to work and support those already in work to build new and existing skills to find better or more secure jobs.
  • Employed: Reach residents most in need of employment support, and tackle uncertain employment and lack of opportunity for advancing in a career.

2. Inclusive Economy

An inclusive economy is one that is fairer, greener, more creative, and resilient – a place where new and existing local businesses thrive, and wealth is kept in the local community.

Our objective is to make sure our local economy is sustainable, socially just, and helps places thrive, making the most of opportunity for local residents and business, and where wealth is fairly shared. We will do this by achieving three key outcomes:

  • Local: Unlock the potential of our local high streets, street markets and neighbourhood parades by helping business owners to prosper, and create vibrant, welcoming, safe, inclusive places for residents and visitors. 
  • Prosperous: Champion social inclusion in Islington’s growth sectors by expanding responsible, sustainable and inclusive business practices and sector strategies.
  • Independent: Help grow Islington’s small and micro business community by connecting them to opportunities and supporting wider ownership through cooperatives and social enterprises.  

The local economies approach will focus on our main economic areas:

  • Angel
  • Archway
  • Bunhill
  • Caledonian Road/Barnsbury
  • Clerkenwell
  • Finsbury Park
  • Nags Head.

Our sector work will focus on:

  • construction
  • health and social care
  • green economy
  • knowledge economy
  • life sciences
  • creative production.

3. Progressive procurement

It is essential that our spending has the maximum positive impact for Islington people and local business, especially the most disadvantaged.  

Our objective is to boost and lock in local wealth creation through the progressive use of local purchasing power. We will do this through three key outcomes. 

  • Leadership: Shape a supply chain that supports an inclusive economy. 
  • Partnerships: Build long-term partnerships with like-minded suppliers that deliver high quality services and social value - everyday experiences, usually adding to your wellbeing, that are not related to money - for our residents, while offering value for money.
  • Community: Through active leadership and progressive supply chain partnerships, our supply chain will make the most of economic, social, and environmental benefits to local communities.

The Progressive Procurement Strategy 2020-27 sets out our plan for making the most of community benefits and social value through our commissioning, procurement, and supply chain - purchasing and using goods and services, and paying employers or contractors to run the council's activities. The Social Value Guidance sets out what we expect commissioners and contractors to commit to so we all deliver social value, and how we will measure the impact of that value.

4. Social and economic infrastructure

We will use all the buildings and assets we own and have access to, together with our planning powers and influence as a local authority, to protect and enhance our local places, town centres, businesses, and local jobs.  

Our objective is to leverage and develop the borough’s physical assets for the greater benefit of residents and local businesses. We will do this by achieving three key outcomes:

  • Progressive: Uphold a local planning framework to maximise the development of affordable housing and workspaces in the borough. 
  • Affordable: Building affordable homes and delivering affordable workspaces to help local families and businesses to thrive, also generating social value.
  • Enabling: Ensuring that our community and education assets are valuable spaces for everyone where they can come together, get skills, organise and participate in building a new economy.

5. Challenging inequalities

Challenging inequality, racism and injustice is vital for Islington. We cannot create a more equal borough for all of our residents without tackling the inequality affecting lives in our community. Our objective is to challenge and remove economic barriers that stop us making a more equal Islington. We will do this by achieving three key outcomes:

  • Targeted: Design skills and employment support for disadvantaged groups including those from Black, Asian, and minority ethnic communities, those with disabilities, parents and young people. 
  • Enterprising: Nurture and support more people from underrepresented groups to start businesses, and provide what they need for their enterprise to survive and thrive.
  • Rebalanced: Use our financial leverage and resources to create and promote a more diverse supply chain, and advocate for a local and regional economy that works for all local people, communities, and businesses. 

6. Anchor Institutions

Even with our resources and the ability to influence and bring about change, we are stronger and can do more if we work in partnership with other local organisations. Our objective is to collaborate with like-minded, local organisations to work together for the benefit of residents and local businesses. 

We will do this together by achieving three key outcomes:

  • Employ local: Adopt progressive policies on recruitment, pay and conditions, and careers to fully harness the talents of our local workforce and future generations. 
  • Buy local: Support existing and emerging local businesses to deliver affordable, quality goods and services to maximise local social value and wealth creation.
  • Lead locally: Manage and develop buildings and spaces to create accessible, sustainable, and better assets and places.

Outcomes for each objective and measuring our progress

Economic wellbeing

Outcome 1: Resilient

We will measure

  • Tackling problem debt
  • Income maximisation

How we measure it (key performance indicators)

How we will know we've made a difference in the first year (success measures)

  • Resident support scheme funding used effectively to maximise hardship funding across the borough  
  • Developed and consulted on new Council Tax Support Scheme to be implemented from 2024/25  
  • Maximised income for residents, with a target of £6 million, and broadened the role of IMAX to include money and debt advice  
  • Implemented the Personal Independence Payment (PIP) benefits calculator for IMAX and launched self-serve option on the our website

Outcome 2: Skilled

We will measure

  • Improving adult skills

  • Promoting apprenticeships as a route into work

How we measure it (key performance indicators)

  • Number of unique learners enrolled on Adult and Community Learning (ACL) courses, with sub targets for parents, disabled / long-term health conditions and Black, Asian and minority ethnic
  • Positive year-end destination for learners, with sub-targets for number of Islington residents supported into council apprenticeships  

How we will know we've made a difference in the first year (success measures)

  • An ACL curriculum that engages new learners from target groups and provides progression pathways 
  • An enhanced ACL offer which focuses on basics for skills (numeracy, English, English as a Speaker of Other Languages (ESOL), digital, job search) and complements the local FE offer  
  • Delivered year one priorities set out in the Apprenticeship Strategy

Outcome 3: Employed

We will measure

  • Supporting residents into paid work which is sustainable  
  • Increasing the proportion of disabled residents / people with long-term health conditions who are in work  
  • Organisations in the borough are fair employers paying decent wages  
  • Work with trade unions to encourage more people to become members, to secure their rights in the workplace

How we measure it (key performance indicators)

Number of:

  • Islington residents supported into paid work through council activity, with sub-targets for parents, young people, disabled / long-term health conditions
  • London Living Wage entry level jobs delivered through the Islington working partnership  
  • employers achieving London Living Wage Accreditation
  • Islington residents supported into jobs with council contracted suppliers  
  • Islington residents gaining apprenticeships with council contracted suppliers.

Percentage:

  • of residents supported into paid work through council activity, who remain in employment for at least 26 weeks  
  • gap between employment rate for residents with long term health conditions and overall Islington employment rate. 

How we will know we've made a difference in the first year (success measures)

  • 1,250 local people supported into good quality jobs  
    Strengthened support for those furthest away from the job market or face particular barriers such as single parents, Black, Asian and minority ethnic residents and over 50s.
  • More businesses to become London Living Wage accredited. 

Inclusive economy

Outcome 1: Local

What we will measure

  • High streets

How we measure it (key performance indicators)

Number of:

  • opportunities brokered through inclusive economy and jobs  
  • businesses that have been positively impacted by inclusive economy and jobs .

How we will know we've made a difference in the first year (success measures)

  • Increasing our spend on local suppliers and influence Anchor Institutions to do the same   
  • Business support initiatives for Islington's markets, including recommendations from the new Inclusive Markets strategy
  • Secure external funding to animate high streets and support hyper-local economic programmes like the Creative Enterprise Zone  
  • Develop Traders' Associations to facilitate resilient local economies with a focus on responsible business practices

Outcome 2: Prosperous

What we will measure

  • Inclusive growth sectors

How we will know we've made a difference in the first year (success measures)

  • Delivered support for local entrepreneurs, small and medium enterprises (SMEs) and businesses through Affordable Workspaces' social value commitments 
  • Established baseline to increase the number of SMEs securing contracts with local anchor institutions  
  • Launch the local construction directory and expanded to other sectors to provide a wider local supplier directory

Outcome 3: Independence

What we will measure

  • Co-operatives, social enterprises and democratically owned businesses.

How we will know we've made a difference in the first year (success measures)

  • Increase in the number of workers' co-operatives and social enterprises, as democratically-owned businesses.  

Progressive procurement

Outcome 1: Leadership

What we will measure

  • Supply chain

How we will measure it (key performance indicators)

Percentage of:

  • suppliers from overall supplier base who are local  
  • expenditure with local businesses.

How we will know that we've made a difference in first year (success measures)

  • Developed and implemented a new operating model for commissioning, procurement and contract management across the council to maximise value for money and social value from contracts  
  • Implemented a new Contracts Register to improve contract management and performance and identify influence-able spend
  • Developed and implemented a systematic approach to social value in contract management to ensure it is integrated into entire contract cycle

Outcome 2: Partnerships

What we will measure

  • Partnerships

How we will know that we've made a difference in first year (success measures)

  • Developed and implemented an enhanced system for social value delivery  
  • Produced qualitative update on delivery of social value, and developed a pilot for the quantitative measurement of major contracts using a social value solution  
  • Through the Supply Chain Practitioners Group shared knowledge gained from contracts to drive forward planning, cost controls and quality on others, thus improving commissioning  
  • Worked with Anchor Institutions to influence supply chains and deliver social value

Outcome 3: Community

What we will measure

  • Economic social and environmental benefits to communities

How we will know that we've made a difference in first year (success measures)

  • Published main providers to support small and medium enterprises (SMEs) to be able to approach them directly to explore opportunities as sub-contractors 
  • Provided guidance to SMEs to help them understand Council requirements  
  • All tendered requirements included 20 per cent social value  

 

Social and economic infrastructure

Outcome 1: Progressive

What we will measure

  • Ensuring an effective response to planning applications

How we will measure it (key performance indicators)

Percentage of planning applications determined within:

  • 13 weeks or agreed time - rolling three months – Majors 
  • 8 weeks or agreed time - rolling three months – Minors
  • 8 weeks or agreed time - rolling three months – Others.

How we will know that we've made a difference in first year (success measures)

Adopted the new Local Plan and the Net Zero Carbon supplementary planning document (SPD) and updated the Developer Contributions SPD.

Outcome 2: Affordable

What we will measure

Number of:

  • new homes for social rent secured through s106 agreements’  
  • new council homes started on site
  • affordable new homes (social rented or shared ownership) completed by us
  • affordable new homes (social rented or shared ownership) completed by developers  

Monetary value of social value from our Affordable Workspaces with sub-targets for women, disabled / long-term health conditions and Black, Asian and minority ethnic.

Outcome 3: Enabling

What we will measure

  • Assets

How we will know that we've made a difference in first year (success measures)

  • Development of a Strategic Asset Management Strategy

Challenging inequalities

Outcome 1: Targeted 

How we will measure it (key performance indicators)

  • Number of unique learners enrolled on Adult and Community Learning courses, with sub-targets for parents, disabled / long-term health conditions and Black, Asian and minority ethnic 
  • Number of Islington residents supported into paid work through our activity, with sub-targets for parents, young people, disabled / long-term health conditions
  • Percentage of residents supported into paid work through our activity who remain in employment for at least 26 weeks

How we will know that we've made a difference in first year (success measures)

  • Maximised income for vulnerable groups through targeted, data-led Pension Credit and disability benefits take-up campaigns  
  • Implementation of the recommendations from LMU research into employment support needs for specific Black and minority ethnic communities with targets for five key groups
  • Implementation of the recommendations from LMU research into employment support needs for Disabled people and those with long-term health conditions and set targets for key groups

Outcome 2: Enterprising

How we will measure it (key performance indicators)

Outcome 3: Rebalanced

How we will know that we've made a difference in first year (success measures)

Increased spend with black and minority owned businesses through supporting them to apply for council contracts, in partnership with Islington’s Anchor Institution Network

 

Anchor Institutions

Outcome 1: Employ local

We will measure

  • Jobs and employment

How we measure it (key performance indicators)

  • Year 1 Baseline year – Key performance indicators to be developed

How we will know we've made a difference in the first year (success measures)

Supported delivery of the action plan developed by the Jobs and Employment Working Group. Key themes:

  • developing a programme of best practice and innovation in relation to diversity, inclusion and local recruitment  
  • making it easier for residents to get jobs with us / simplifying the recruitment process  
  • developing strong connections to local communities, colleges and schools  
  • coordinated levy transfer work  
  • data analysis and strategic planning.

Outcome 2: Buy local

We will measure

  • Procurement

How we measure it (key performance indicators)

  • Year 1 Baseline year – Key performance indicators to be developed

How we will know we've made a difference in the first year (success measures)

Support delivery of the action plan developed by the Support Local Business (Procurement) Working Group. Key themes:  

Institution

  • Social value objectives  
  • Social value good practice  
  • Procurement processes  

Business  

  • Building a network that promotes local business
  • Incorporate businesses with a local company portfolio and/or presence into supply chain  

Community 

  • Progress social and economic growth
  • Environment and sustainability

Outcome 3: Lead locally

We will measure

  • Sustainable assets

How we measure it (key performance indicators)

  • Year 1 Baseline year – Key performance indicators to be developed

How we will know we've made a difference in the first year (success measures)

Key themes:  

  • Decarbonising our buildings  
  • Sustainable transport  
  • Sustainable and affordable energy  
  • Waste reduction, re-use, repair and recycling  
  • Natural environment  
  • Skills, supply chain and procurement  
  • Funding opportunities.
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