Further cash boost to help Redbridge rebuild from COVID-19

Redbridge Council is preparing to invest a further £5m to support local people and businesses in their efforts to recover from the devastating economic impact of COVID-19.

COVID-19 has caused heartache and hardship for many across the borough. Many businesses have closed, trading has reduced, unemployment has risen, and benefits claims have tripled over the last year.

A clear, structured package of support is needed to address the pandemic's economic and financial impact on businesses and individuals. 

Therefore, Redbridge council is investing £1.6m over three years in its Work Redbridge service to provide intensive employment advice and support to residents to get them back into work. Working with local communities and in partnership with the private sector, the council wants to:

• Invest £0.600m in a business recovery programme to support local firms 
• Establish a £0.250m High Streets improvement fund to kick-start recovery
• Invest £2.5m in flexible, affordable workspace schemes 
• Complete the delivery of the Spark project

Deputy Leader of Redbridge Council, Cllr Kam Rai, said:

"For many of us, the last year has been one of the most difficult we've ever experienced. Many people have lost loved ones and struggled financially, which is why we're committed to investing in the borough and supporting our communities to overcome the impact of COVID-19.

"Gradually, things are starting to move in the right direction. More than 80,000 people in Redbridge have had their first vaccination, and we now have a roadmap which, if we work together to control the spread of Covid-19, will enable our economy to open up slowly and allow some semblance of normality; to return to our lives."

Over the last year, the council has already:

• Awarded over £60m in government grants to local businesses
• Helped more than 1,800 businesses to access support and help them recover, sustain and develop
• Secured up to £0.270m external funding to support the safe reopening of our high streets
• Secured an additional £0.500m to boost Ilford town centre regeneration

The council is also investing and actively looking at ways to incentivise new responsible businesses into the borough, diversifying the local offering.

Cllr Rai added: "We want every person to have the support they need not just to survive, but thrive. That is why we are putting forward recommendations to invest in people and businesses in the borough. The recovery starts now."

The paper, outlining the council's efforts to rebuild and support communities out of the pandemic, will be discussed at the next meeting of the Cabinet on Tuesday, 16 March.