8.
Councillors Morrison, Leadbitter, Alexander, Brown, Divers, Eagle and Ross took part in the consideration of this item.
A report by the Depute Chief Executive (Economy, Environment and Finance) informed the Cabinet of the impact on the economy as a result of Covid-19 pandemic, the support announced to date for businesses and employees and the preparations being made to plan for recovery and renewal of the Moray economy.
The Senior Officer Economic Strategy and Development updated the Committee on the following points:
i) |
2 additional reports on the economy have been received, the first was the Bank of England Monetary report on the impact of COVID-19 and the second the treasury analysis discussing how the costs associated with COVID 19 would be repaid.1. |
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ii) |
claimant count statistics for Moray for April stated that there has been an increase of 970 claimants, 57% of which are male, 67% female and that the worst hit group are those in the 25-49 category. |
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iii) |
the Scottish Government household survey which found that 41% of households have had their finances negatively affected. This rises to 55% for people with three or more children and is greater for those in lower skilled jobs. 48% of people in semi-skilled occupations compared to 34% in managerial occupations |
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iv) |
the Non Domestic Rates Grant Scheme of £10,000 and £25,000 has, to date, paid out £13,945,000 in grants to Moray businesses; |
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v) |
the grants for newly self employed which is administered by Business Gateway has paid out £164,000 paid out. |
Several members proposed membership for the Moray Economic Partnership however the Depute Chief Executive (Economy, Environment and Finance) proposed that as this was not requested in the recommendations of the report, the discussion should take place outwith the meeting and for Group Leaders to discuss with the Head of Governance, Strategy and Performance should there be more than 3 nominations..
Following consideration the Cabinet agreed to note the potential economic implications of Covid-19 on the UK, Scottish and Moray economies based on the latest analysis as well as the local, Scottish and UK responses, and endorse the preparations being made to plan for recovery and renewal of the Moray economy.