• WHY is it not enough to talk about local economic growth? During this week’s Council examination of Camden’s economy, speakers agreed on one thing: We need to do more to address inequality.

Our borough attracts an increasing number of businesses that generate high skilled employment, however, this growth model is not delivering for all our communities and businesses.

Ten years life expectancy separate people living in the least deprived areas in (eg in Hampstead Town, Frognal and Fitzjohns), from those in the most deprived ones in Camden (eg in St. Pancras and Somers Town, Kilburn or Covent Garden).

The loss of public wealth through austerity and privatisation in our neighbourhoods needs to be changed. It is naïve to continue to place faith in trickle-down economics to deliver opportunities.

A genuine local wealth building approach, successfully attempted in other municipalities, promoted by the Centre for Local Economic Strategies (CLES), brings hope.

It builds on local roots and plural ownership models, includes all human resources sustaining social life, such as care, education and environment.

It helps to link what the Council is doing in terms of employment support and procurement, with a broader agenda of insourcing and investment in the local economy.

Brexit has shown people feel left behind by the lack of economic responses to their desire for a better life, and by the lack of democratic spaces where they are listened to.

The local wealth building approach would help to democratise our local economy. It clearly needs our attention and support.

CLLR DOUGLAS BEATTIE, CLLR NAYRA BELLO O´SHANAHAN, CLLR LEO CASSARANI, CLLR MARYAM ESLAMDOUST, CLLR THOMAS GARDINER, CLLR SIMON PEARSON, CLLR GEORGIE ROBERTSON, CLLR RANJIT SINGH, CLLR SUE VINCENT