Insight 43 - Magazine - Page 10
HERTFORDSHIRE PREPARES FOR NEW
ECONOMIC STRATEGY WITH EXTENSIVE
ENGAGEMENT AND DEBATES
Hertfordshire Futures is gearing up to launch a comprehensive new Economic
Strategy, set to go out for consultation this Spring. The strategy aims to drive
sustainable growth and innovation across the county over the next decade.
T
he development of this strategy
has been informed by an extensive
six-month engagement campaign,
which ran from July to December 2024.
During this period, Hertfordshire Futures
engaged with a wide cross-section
of stakeholders, including residents,
businesses, local authority leaders, MPs
and neighbouring authorities, education
and training providers. This inclusive
approach will help to ensure the strategy
reflects a diverse range of local views and
priorities. A summary of this engagement
can be found here.
To further enrich the strategy,
Hertfordshire Futures hosted a series
of debates during the early part of 2025,
bringing together national policy leaders
and local experts to discuss key issues
such as inclusion, sustainability and digital
innovation. These debates provided a
platform for in-depth discussions on
topics such as economic inactivity, green
investment and the potential of AI and
digital advancements.
Introducing the series, Adrian Hawkins
OBE, Chair of Hertfordshire Futures,
emphasised the importance of this
collaborative approach: “By engaging
with a broad range of stakeholders and
hosting these debates, we have ensured
that our strategy is both comprehensive
and representative of local needs.”
Click here for full introduction.
Key outcomes from the engagement
and debates include the identification of
practical interventions to drive sustainable
and inclusive growth, and the development
of local action plans. These insights will be
instrumental in shaping the final version
and delivery of the Economic Strategy.
The draft Economic Strategy is scheduled
to go out for public consultation in
Spring 2025.
For more information and to stay
updated, visit the Hertfordshire
Futures website.
WEBINAR 1: GET HERTFORDSHIRE WORKING
Developing a locally led response to
tackling economic inactivity
How can we get more people in
Hertfordshire back into work was the exam
question put to an expert panel in the first
of three Hertfordshire Futures debates
designed to grow the economy and widen
opportunities.
The debate broadcast live on Thursday
29 January brought together voices
from across health, business and local
government to help break down barriers
to employment and ensure more people
can make meaningful contributions to
society. The series of online forums are
the last phase of public engagement and
will feed into the consultation draft of
Hertfordshire’s Economic Strategy.
In opening the debate, Media Club
presenter Matt Deegan outlined the scale
of the problem. Across the UK there are
2.8 million people out of work due to
long-term sickness with one in eight young
10
people not in education, employment or
training and nine million adults lacking
in basic skills. Behind each statistic is an
individual tragedy, particularly for the
young, and the rise in worklessness has
huge societal consequences.
in mental health issues. Other factors
include an ageing population facing health
issues, with more older workers choosing
to leave the workforce early due to a
range of factors. This situation is further
compounded by the increase in people
claiming health-related benefits.
Inactivity rates spiked during the
pandemic, but they have remained high
subsequently. The UK remains an outlier
as it is the only major economy that has
seen its employment rate fall over the last
five years, driven predominantly by a rise
in the number of people out of work due
to long-term ill health. At the same time,
in-work poverty has become far more
prevalent as the incidence of low pay
employment has grown.
In Hertfordshire 18.3% of people aged
16-64 are economically inactive, which
is slightly lower than the national rate of
22%, but this rate does vary from district
to district. The incidence of ‘long term
sick’ among those who are economically
inactive is slightly lower in Hertfordshire
than across England, but worryingly this
rate appears to be growing faster than the
UK as a whole.
There are multiple other reasons behind
the rise in worklessness. The number
of young people (aged 16-24) not in
education, employment or training
(NEET) has increased since the end of
the pandemic. This reflects the rise in
youth unemployment, and an increase
In November, the Government published
the Get Britain Working White Paper aimed
at getting to grips with this key barrier to
UK growth. It outlined a new approach to
skills, health, welfare and local support,
and set out a long-term ambition to
achieve an 80% employment rate. The
bIZ4BIZ INSIGHT MAGAZINE | APRIL 2025
