Local Economic Assessment

Lambeth First are in the process of developing a Local Economic Assessment (LEA) for Lambeth.

The Local Democracy, Economic Development and Construction Act 2009 places a duty on local authorities to prepare an assessment of the economic conditions of their area - known as a Local Economic Assessment.

LEA's are intended to bring together a wide range of partner data, undertake an assessment of need and make recommendations as to how a local area can be improved. In Lambeth's case it will inform how the local economy and individual economic wellbeing can be strengthened.

Lambeth’s LEA will:

Guide strategic decision making and the development of Lambeth First strategies
Inform the commissioning of new services
Improve the delivery of services
Support business/private sector decision making and investment

In addition to the statutory need for economic assessments, the recent economic downturn has brought into sharper focus the importance of local government in supporting economic development.

In Lambeth our LEA will provide us with a more complete understanding of our local economy. The LEA will inform economic strategy development and will complement other key plans and strategies such as the Health and Wellbeing Joint Strategic Needs Assessment (JSNA), local development frameworks, work and skills plans, and child poverty needs assessments).

The LEA will be an ongoing process, with a refreshed assessment produced on an annual basis. Once the initial LEA has been developed for the borough, future assessments will be developed in line with other statutory needs assessments, such as the JSNA. Aligning the development process will reduce duplication and will enable us to draw better links between the economy, worklessness, and health and wellbeing.

Detailed work to develop the LEA commenced in December 2009 and is ongoing. We are hoping to have a final LEA developed by November 2010.

For more information about Lambeth's LEA, please contact Nathan Pierce on 020 7926 6917.