Over the last few months we have all looked on as institutions that we thought solid as rocks seemed about to crumble and unimaginable sums of money were moved around.  In some ways it seemed very distant from our own lives but I think we all knew that it would have consequences for individuals and families sooner rather than later.  As mayor my role is to make sure that the council and other local organisations are able to respond quickly and appropriately to those consequences.

The Government has acted decisively to try and help restore confidence in our economy.  But the situation remains volatile.  Unprecedented action has been taken for these unprecedented times.  At the same time we have also been experiencing a world-wide increase in energy and food prices; resulting in higher bills for all of us.

Together these global forces must have an impact on London, not least because it is the heart of the country’s financial sector.  Many of Lewisham’s residents work elsewhere in London, we cannot just concentrate our efforts on what happens locally.  The availability of jobs, credit and mortgages are not  issues that can contained within the borough’s boundaries.  That is why I will argue our case hard at the London and national level.  Our residents, communities and businesses locally depend upon the success of London and the wider economy.

We can see some immediate effects on jobs, families and businesses, but no one yet knows how things will develop; and how London and Lewisham will be affected by the current circumstances.   Moreover, no one can tell us quite how long the economic downturn will last.

I have called together all local partners in the private, voluntary and public sectors to consider how we respond.  This is a time to work together across all agencies to help people overcome the worst effects of the credit crunch in Lewisham.  In doing this we will be:-

·         assessing the immediate, medium and long term effects on the people of Lewisham as well as on local businesses and voluntary organisations

·         providing key advice, guidance and information to people and businesses as to how they might beat the credit crunch – crucially we will work closely with the local voluntary sector on issues such as money and debt advice as well as on advice on how best to cut energy costs

·         working across London (on skills development, training and transport) to secure the best job prospects and opportunities for Lewisham’s residents

·         harnessing the work of all public agencies locally to do what is feasible and sensible to help people overcome the worst effects of the credit crunch

Over the coming months I am willing to work with all Councillors, together with our MPs and our GLA Members to make sure that locally as much as possible is done and that we speaking up for Lewisham.

In the past few years we have made a lot of progress in Lewisham – our young people are doing better at school and more and more of them are enjoying good quality buildings in which to learn.  Health care is better and in many ways our borough has been benefiting from investment in both services and infrastructure.  We have faced serious challenges as well – too many of our young people have been victims of crime, housing was in short supply even before the current problems and we have all been concerned about the ever clearer impact of climate change.

Over the coming months and years we must not lose sight of the progress we have made or forget that Lewisham is a place that so many of us have chosen as our home precisely because it is somewhere that people do work together and support each other.  All of us – public services, community groups, faith organisations, families and individuals will have a part to play in making sure that all that is good about Lewisham sustains us while we also keep working on those challenges that still trouble us.

Steve Bullock