What the standalone Moratorium might mean for companies in Northern Ireland by Damian McElholm, Banking & Finance Senior Associate, Eversheds Sutherland Belfast

Damian McElholm, Banking & Finance Senior Associate, Eversheds Sutherland Belfast

As we approach the end of another quarter, a potentially difficult time for businesses in the current climate with bills needing paid, we are also embracing landmark changes to restructuring and insolvency legislation. The Corporate Insolvency and Governance Act 2020 (the “Act”) has now gained Royal Assent.  

The Act contains a mixture of temporary and permanent measures which have generally been welcomed as a means of providing options to companies impacted by the worst effects of the Coronavirus pandemic. For those that need protection and support, these changes will feel long overdue.

One of the prevailing permanent measures introduced in the Act is the new standalone moratorium.  This will give breathing space to the directors of companies in financial difficulty to explore options for a rescue or restructure of the company where appropriate.  The aim of the process is that such companies will emerge as a going concern safeguarded by the fact that an insolvency practitioner, acting as a monitor, will keep a watchful eye on the process.  The monitor must also form, and continue to hold, the opinion that the company can in fact be rescued as a going concern. Getting insolvency practitioners comfortable with that proposition in circumstances where financial and other information may well be limited will certainly be an interesting challenge to overcome in the coming months.

If implemented, a moratorium will give struggling businesses an initial 20 business day period to consider a rescue plan, which will be extendable by the directors of the company for a further 20 business days or, with creditor consent, up to one year. It is a flexible process with the company remaining under the control of its directors but with their actions and decisions being overseen by the monitor. 

The moratorium will also restrict creditors from recovering and enforcing debts during its implementation period. This is not a simple one hat fits all scenario and as such there remain lots of uncertainties surrounding the detailed workings of how the moratorium will work in practice. For example, unsecured creditors and suppliers have already expressed some anxiousness about the introduction of the moratorium due to the fact that it will prevent recovery of their debts.  However, the fact that the process can only be implemented by companies confirmed as being able to emerge as a going concern  and coupled with the role that the monitor will play in the process should hopefully provide sufficient comfort to those key players to embrace the new process.

It is also notable that secured creditors are prevented from enforcing their existing security during the moratorium without the permission of the Court. Despite this, the Act requires liabilities in respect of most lending arrangements to be serviced during the moratorium.  Inevitably, support from a company’s secured creditors will be essential to it continuing as a going concern so they will no doubt continue to have a significant influence in the success of any moratorium process.

Taking all of this in the round, the potential to enter a moratorium outside of a formal insolvency process may be an attractive and advantageous means of buying some breathing space for companies experiencing financial difficulties. The challenge facing directors of such companies will be to appropriately manage all of the company’s stakeholders during the process. It will be interesting to note in the coming months just how successfully companies can manoeuvre the moratorium to ensure that viable companies remain operational and play their important role in the restarting of the local economy.

Hospitality Ulster calls for businesses and customers to play their part as some hospitality businesses reopen this weekend

Colin Neill, Chief Executive of Hospitality Ulster

Hospitality Ulster has appealed to the hospitality sector and customers alike to be responsible and comply with social distancing measures when sections of it reopens today.

Hospitality Ulster recently published extensive guidance and risk assessment procedures to ensure the sector can do all it can to reduce the spread of this virus whilst businesses reopen safely.

Colin Neill, Chief Executive of Hospitality Ulster commented:

“We know that people have been stuck in their homes for almost 15 weeks and many will be keen to visit their favourite restaurant or pub when they reopen.”

“However, customers can expect some changes as businesses adapt their premises to make them Covid-19 secure. With reduced capacity, restrictions mean that food pubs must operate like restaurants indoors, non-food pubs restricted to outdoors only and some, as yet, unable to reopen. I would advise customers to plan in advance to ensure they are not disappointed and whilst businesses will be making every effort to ensure their safety, customers must also take responsibility for ensuring social distancing to protect staff and other customers.”

“The reopening of the hospitality industry comes with increased responsibility to protect the health of our staff and customers. To that end, each and every business in our sector must do all they can to reduce the spread of Covid-19.”

“Reopening also comes with a range of restrictions and advice which must be taken seriously and implemented to the highest standard. Flouting the regulations or guidance could result in the re-closure of our sector, or worse - the increased transition of the virus through irresponsible actions.”

“Hospitality Ulster has striven to protect the jobs and livelihoods in our industry, but now it is the responsibility of the individual businesses to do everything possible to reduce the spread of the virus and protect lives of their staff and customers.”

“Every business must take a responsible attitude and comply with Government guidance. It is also vital that everyone adheres to the social distancing guidelines so that the wider industry can prosper in the future. If the police are forced to take action, we’ll fully support them in this respect.”

“That being said, the hospitality industry is incredibly responsible and significant measures have been taken to create a safe environment. We are not taking this lightly, and many members have spent thousands of pounds, just to allow them to reopen in a safe way. It is in the best interest of the industry in the long term that it is successfully reopened so that jobs and livelihoods are not affected. We simply cannot afford to see a spike in cases and a second lockdown.”

“As the industry begins to reopen this weekend, we urgently need a reopening date for non-food pubs, a vital part of our industry and our communities, as they cannot sustain continued closure unless further financial assistance is forthcoming from the NI Executive.”

NILGA welcomes latest NI Planning Statistics for 2019/20

Karen Smyth, Head of Policy, NILGA

Reacting to the latest Northern Ireland Planning Statistics: 2019/20 Annual Statistical Bulletin published by the Department for Infrastructure this morning, NILGA Head of Policy, Karen Smyth said:

“It is very welcome to see the continued improvement in planning statistics across councils in Northern Ireland, and it is particularly pleasing to see the overall improvement in processing times for major applications with 8 of the 11 councils either meeting the target or showing significant improvement in processing times. Several councils have shown huge improvement in this area and should be commended for this. It is clear that the vast majority of applications are being processed in a timely fashion, with major applications forming a vital but limited part of the overall picture, and councils on average taking 14 weeks to process local applications, within the 15 week target.

“NILGA also welcomes the provision of statistics on renewable energy applications. With work ongoing regarding the expected publication of a substantial new energy strategy, councils will need to be well informed on this area of development to ensure the strategic government policy and decarbonisation aims tie in with the 11 Local Development and other local infrastructure plans.

“It is clear councils are more than meeting their targets and it is great to see sustained high performance across the planning system. Covid-19 has presented serious challenges to how councils operate over the past three months, but they have adapted commendably to ensure the planning process continues, given its immense importance to our regional economy.”

Community Pharmacy NI welcomes £13.25m funding commitment from Department of Health

Chief Executive of Community Pharmacy NI, Gerard Greene with Health Minister, Robin Swann MLA and community pharmacist, James McKay today following the landmark announcement of £13.25m funding for the community pharmacy sector.

Community Pharmacy NI has welcomed today’s announcement of £13.25m in funding for the community pharmacy network by the Department of Health.

Community Pharmacy NI is the professional membership body which represents over 500 local community pharmacies across Northern Ireland. 

The funding allocation is set to help sustain and expand transformative services provided by community pharmacists, building on their response to the Covid-19 pandemic whilst at the same time going some way in easing workforce pressures and financial uncertainty. 

This funding boost comes amidst huge strain placed on the Health Service during the recent surge of the virus and the challenges now faced by the Health and Social Care estate in rebuilding and transforming services as the pandemic subsides. 

Chief Executive of Community Pharmacy NI, Gerard Greene said today:     

“We welcome the announcement from the Department of Health. This funding will allow the community pharmacy network to sustain and develop services to build upon its vital, frontline role. This allocation signals a move forward for community pharmacy as a key service in the new post-Covid health and social care system supporting important service provision to patients. It is a clear recognition of the critical role of the sector, not only in the safe supply of medicines, but as the fabric which holds local communities together in times of crisis.”

“Community Pharmacy NI would like to thank the Health Minister, Robin Swann MLA, for his commitment to the community pharmacy network. We are only too aware of the extreme pressures the health system has faced recently. Despite only being in post as Health Minister since the return of the Assembly earlier this year, he has listened, and prioritised community pharmacy and we must acknowledge his commitment in finding solutions.” 

“We also commend the work of the officials in the Department of Health and HSCB who have worked collaboratively with CPNI in securing this funding, which will have a transformative and positive impact for patients here.” 

“From the very beginning of the pandemic, community pharmacists have worked night and day to support their local communities. During the recent months, it is clear that the community pharmacy network rose to the professional challenges and adapted almost overnight to keep the flow of vital medicines to patients managing conditions in addition to those presenting symptoms at pharmacies who were unable to access their GP.”

“This funding boost is hugely positive and will enable community pharmacy to address immediate pressures and help with the challenges of the post-Covid Health Service, assisting community pharmacy to provide even more services to ensure our communities are served and supported and that public health is protected.”

Community Pharmacy NI Chair, James McCaughan added:

“From the earliest stages of the Covid-19 health crisis, community pharmacists were all too aware that they were at the frontline of the healthcare response. We saw an incredible surge of patients going to local community pharmacies across NI to seek advice and obtain vital medicines.” 

“The pandemic highlighted the agility of our network, with pharmacies changing overnight in many cases. New layouts were designed, Perspex screens were erected, social distancing measures implemented, and stocks of PPE were provided to ensure both public and staff safety so that community pharmacies were open, accessible and could look after patients.” 

“The pressures of the pandemic have had an emotional and physical toll on many of our colleagues, but it has also shone a light on their passion and energy for our local communities and our commitment to ensure support and care is provided at all times.”

“Community pharmacy is the heartbeat of our neighbourhoods, with many of our patients coming to us when they needed us most. This new funding allocation shows the Department of Health’s commitment to ensuring community pharmacy is a key component to the rebuilding of the Health Service. We welcome the funding news today and look forward to maintaining and expanding on our services in future.”

Contract awarded for new Northern Ireland Planning IT System

The Department for Infrastructure (DfI) and 10 councils have jointly awarded a contract for a new regional planning IT system.

TerraQuest has won the contract to deliver the modern, user-friendly system on behalf of the Department and 10n local councils, as well as providing on-going support for the new system until at least 2030.                                                                                                                                                                                                   

The new system will replace the existing Northern Ireland Planning Portal (NIPP) which is reaching the end of its operational life. A joint investment of £14million will be made in developing the new planning IT system for Northern Ireland, benefiting both customers and staff. The new modernised planning IT system will facilitate a more responsive and efficient planning service across both local and central government, including bringing key services like the submission of applications online. This increased use of technology and on line processing will be of significant benefit, in supporting economic recovery in the context of COVID-19.

The current system supports the planning system with over 12,000 planning applications per year. It is used by over 700 staff, over 500 consultees and thousands of citizens annually.

It is expected that the new system will be phased in from late 2021 to early 2022 and users will be informed of the changes within each council area, at the appropriate time.   

Hospitality Ulster welcomes the reduction in social distancing from 2m to 1m

Hospitality Ulster Chief Executive, Colin Neill with Economy Minister Diane Dodds MLA following the announcement this afternoon

Reacting to the news this afternoon that the Northern Ireland Executive has agreed to reduce social distancing guidance from 2m to 1m, Hospitality Ulster, Chief Executive Colin Neill said:

“This is fantastic news and the right decision by the Executive. We must thank the Ministers and the Economy Minister Diane Dodds in particular for bringing it to the Executive table.”

“The move to 1m has the potential to save lots of jobs and some hospitality businesses that thought they didn’t stand a chance at 2 metres.”

“The industry is prepared and will do everything it can to protect its staff and customers and reduce the spread of the virus, whilst at the same time reopening the hospitality sector for the benefit of the wider economy.”

“But there is work to do. Even under a 1m regime we are aware that some businesses in the hospitality sector just will not be able to open as it won’t be commercially viable to do so. But, we must give the sector a fighting chance and now we need to move to secure a date for the reopening of all hospitality businesses, including non-food pubs in the same way that our counterparts in the Republic of Ireland and England have, as we move headlong into the summer months.”

Brown O'Connor Communications Weekly Look Ahead: Week Commencing 22 June

Forward Look

• The Executive has announced further easing of lockdown measures due to the ‘R’ rate being between 0.6 and 0.9. Hospitality services will reopen, with self-catering tourism sites such as caravan parks allowed to open from 26 June, and bars and restaurants on 3 July. Hairdressers and beauty salons will be open from 6 July. Other measures include social distancing between children and young people to be reduced to 1m within schools and colleges, and shielding letters given to those more vulnerable to Covid-19 will be paused from 31 July.

• First Minister, Arlene Foster MLA, has said the key worker definition will no longer be applicable from 1 July, meaning all parents can avail of childcare. Childminders will be able to look after 4 children at a time, with this moving to 5 children in August.

• Carál Ní Chuilín MLA has been appointed Communities Minister temporarily while Deirdre Hargey MLA steps aside due to Health issues.

• The Department for the Economy launched a consultation into Parental Bereavement and Pay. The consultation follows similar legislation brought in by the UK Government. Deadline for responses is 10 August. To view the consultation: HERE

• Fine Gael, Fianna Fáil, and the Irish Green Party Leaders have agreed on a Programme for Government that will form the basis of a Coalition Government. The PfG document has been presented to all party members who will vote on the Programme on Thursday. If agreed, Micheál Martin will take the role of Taoiseach and Leo Varadkar Tánaiste. They will rotate roles in December 2022.

• First Minister, Arlene Foster MLA, confirmed Brenda King, First Legislative Counsel in the Executive Office, will discharge the duties of the Attorney General on an interim basis. This follows the announcement that current AG, John Larkin QC, will step down from the role on 30 June.

• The Communities and Economy Ministers will be take part in Question Time at the Assembly on Tuesday 23 June.

• Education Minister, Peter Weir MLA, will brief the Education Committee on Wednesday 24 June on the Covid-19 response.

• SOLACE will brief the Communities Committee on Wednesday  24 June on the ongoing impact of Covid-19 on local councils.

• Parliament will hear an Adjournment Debate on BBC regional political coverage on Monday 22 June, tabled by Conservative MP, Neil Parish.

• Northern Ireland Questions will be heard on Wednesday 24 June at the House of Commons.

• Victim’s Commissioner, Judith Thompson, will give evidence on addressing the legacy of the past to the NI Affairs Select Committee on Thursday 25 June.

• The Department for Communities has announced Sarah Havlin as the Commissioner for Local Government Boundaries. The Commissioner will launch a review into the number, boundaries and names of local government districts and wards, and make recommendations to the Department.

• The Northern Ireland Local Government Association’s new President is Cllr Matt Garrett. The Sinn Fein Belfast City Councillor replaced Cllr Frances Burton of Mid Ulster Council at NILGA’s AGM on Thursday.

• The Northern Ireland Office has opened the process to appoint Commissioners of the Northern Ireland Human Rights Commission. Applications close on 26 June.

• The seventh annual BelTech Conference will go online between Monday 22 June and Thursday 25 June. To register for the free conference: www.beltech.co

Other Stories this week

• The Departments of Health and Communities have launched a virtual Covid Wellbeing Hub to promote positive mental health during the pandemic. The hub, in partnership with 16 charities and 28 health living centres can be found: https://covidwellbeingni.info/

• The Economy Minister, Diane Dodds MLA, published the medium-term economic recovery plan covering the next 12-18 months. ‘Rebuilding a Stronger Economy’ sets out a framework to deliver higher paying jobs, a highly skilled workforce, and a more regionally balanced economy. This was launched alongside a new Economic Advisory Group, chaired by Ellvena Graham. To read the economic paper click HERE.

• Hospitality Ulster have called on the Executive to reduce the 2m distancing rule to be to 1m to ensure the hospitality sector can remain commercially viable and properly reopen.

• Ireland has been elected to the United Nations Security Council, after winning a two-third majority in a vote between Canada and Norway for two seats. The last time Ireland won a seat on the Council was 2001.

• The Prime Minister announced the Department for International Development will merge with the Foreign Office. The new joint Department will be known as Foreign Commonwealth and Development Office, and will be set up by September.

• Derry City and Strabane Council have granted planning permission for Atlantic Hub to build an international IT services and data centre, located at Foyle Port.

• The Health Minister has extended the post of the Chair of the Public Health Agency. Andrew Dougal, who took up the role in April 2015, will continue as Chair until June 2021. 

• Abortion regulations which came into effect in March passed the final legislative vote in the House of Commons and will now go to Royal Assent to be made law.

• 52 jobs have been created by UK based business, Firefly Learning Ltd, a digital education platform that will support schools with remote learning. The business has partnered with Invest NI to set up in Northern Ireland.

Consultations

• Consultation on Bereavement Leave and Pay Department for the Economy. Deadline 10 August.

• Consultation on Further Education Support and Charging Policy at the College of Agriculture, Food and Rural Enterprise (CAFRE) DAERA. Deadline 11 September.

Andrew Jenkins, Fintech Envoy for Northern Ireland reacts to Belfast being ranked in the inaugural top 10 Tech Cities of the Future

Andrew Jenkins, Fintech Envoy for Northern Ireland

“Confirmation that Belfast has been ranked in the inaugural top 10 “Tech Cities of the Future” for 2021/2021 by fDi Intelligence, one of the world’s premier publication for the business of globalisation is another significant endorsement of the burgeoning tech sector in Belfast and indeed Northern Ireland as a whole. To be ranked above the world leading financial hubs such as Frankfurt and Zurich are testament to this.”

“There are many reasons why Belfast is fast becoming a world beating tech destination and prime investment material. The resiliency, adaptability, and innovation at the heart of the sector here along with the talent on offer is continually noted by those global businesses who have already invested here. Despite the challenges posed by Coronavirus, there is an energy and drive about the sector, and it is important that we harness this energy as we move forward.”

“It is important to also recognise the success of our peers in Dublin who have also made the Top 10 list. There is a great relationship between the tech sectors in Dublin and Belfast and recognition of the two cities is indicative of the potential right across the island of Ireland. As we approach the end of the Brexit transition period, we know that cross-border cooperation will be vital into the future.”

“By continuing to work together, we know that we can build on this success and nurture the skills and talent which will see us remain at the forefront of the tech sector long into the future.”

Bus and Coach industry “on its knees” and requires immediate financial support from the Executive

Karen Magill, Chief Executive of Bus and Coach NI with Niall McKeever, Chairman of Bus and Coach NI and Director of Airporter pictured outside Parliament Buildings, Stormont today.

The Bus and Coach industry in Northern Ireland has called on the Northern Ireland Executive to support them financially as a priority.  

Over 30 coach providers from across Northern Ireland arrived at Stormont from Titanic Quarter earlier this morning to take their appeal to the heart of the Executive.

Without immediate financial support, the industry representative body, Bus and Coach NI has said the industry will be decimated with thousands of jobs at risk. They say the situation because of Covid-19 is worsening by the day.

The coach industry has been one of the most negatively impacted sectors within the tourism ecosystem and will be the last to fully recover. However, many coaches also provide vital services including school transport services in communities right across Northern Ireland which could disappear without financial assistance.

The Bus and Coach industry is a key supporter of the local economy directly employing over 3,000 people and supporting many more throughout the tourism and travel network.

Karen Magill, Chief Executive of Bus and Coach NI said:

“Time is running out to save our industry which is on its knees right now. Without immediate and ongoing financial support, thousands of jobs could be lost and our once thriving coach industry could disappear overnight.

“Coronavirus has had a devastating impact on the whole tourism ecosystem, and it is difficult to see any light at the end of the tunnel for our members. As each day passes, more and more businesses are becoming unviable which unfortunately means job losses. Despite benefiting from the furlough scheme, significant overheads remain which is making it impossible to continue trading.

“The loss of coach providers would have a significant knock on effect – without these coaches how will visitors and customers who rely on us to travel to hotels, restaurants and tourist attractions make their way? These reduced numbers would ultimately have a negative impact on the wider tourism and hospitality industry and economy which needs visitors to survive and thrive again post Covid-19.

On the important role Coach providers play in Northern Ireland, she added:

“It is not just our tourism sector which relies on the coach industry. We are a key part of communities right across Northern Ireland whether that is through transporting school children, sports teams, or those in rural communities. This factor must be recognised and acknowledged with financial support now.”

New NILGA President urges greater prioritisation & understanding of local government across Government, post-Covid

Councillor Matt Garrett, the newly elected NILGA President

The new President of the Northern Ireland Local Government Association (NILGA) has said the Covid-19 crisis has highlighted the urgent need to prioritise & strengthen government’s understanding of local councils, their potential, their resources and their vital role in society here, amidst the financial cliff edge local government faces. 

Speaking at his inauguration at NILGA’s Annual General Meeting, which took place virtually today (18 June), Councillor Matt Garrett warned that the coronavirus had turned “financial cracks into craters” and said meaningful collaboration between councils, Stormont, business and the community will be key to safely emerging from the pandemic.

Local government as a sector in Northern Ireland is estimated to be losing £10.5m a month of income as revenue streams like leisure and tourism facilities and off-street car parking were forced to halt during the first wave of the pandemic. Councils in Northern Ireland have furloughed some workers on the government’s Job Retention Scheme, and the Department for Communities recently announced an emergency funding package of £20.3m to be split between local councils which alleviates many short term crisis points until the end of this month.

Laying out his vision for the next 12 months, Councillor Garrett said his priorities included working with the Assembly, Stormont Departments, and the Treasury to unlock vital funds to help local government navigate the crisis, and completing a review of how local government is better understood and funded.

Speaking after the virtual NILGA AGM, Councillor Garrett, new NILGA President, said:

“This is an exceptionally challenging time for everyone involved in local government. Covid-19 has exposed the extreme financial fragility of our 11 local councils and, as a sector, we are haemorrhaging tens of millions of pounds a month. The current model of government in the North is not sustainable and cannot continue. For too long, local government has been undervalued and misunderstood.”

“Local government’s response to the pandemic has protected frontline services, the most vulnerable, saved lives, preserved good public health, and brought together extraordinary community and business partnerships across the North. Like partners in health and other key services, our frontline workers have gone above and beyond in serving their communities and I am humbled by the compassion and generosity of our local government heroes. I want to deliver a recognition event drawing on those involved in the response to the pandemic across our 11 council areas, formally thanking them wholeheartedly for their efforts over the past three months and beyond.”

“As NILGA President, I will work collaboratively with all 11 councils, all members, senior officers, council officials and Stormont to redefine the relationship between central and local government in our region, and work tirelessly to get the proper funding and resources that we require. Despite everything that it contributes to our communities, local government equates to less than 5% of NI’s annual public sector budget of £23bn. Councils can be ecosystems of economic vitality and lead the recovery from Covid-19, but they need the right tools and partnerships.”

“NILGA is an organisation driven by a desire to serve our communities and deliver for local people, not by ideologies or party politics. Never has this been as important as in the current climate. While I am honoured to have been appointed President, I am acutely aware of the mammoth task before us this year. Financial precarity is nothing new to anyone involved in local government but it has taken on a crisis dimension this year.”

“Covid-19 hasn’t caused these challenges within our sector, but it has massively exacerbated them. The pandemic has turned financial cracks into craters. It is time for councils to receive the backing they deserve. I and my colleagues will be evidence providers for MLAs, Ministers and Westminster over the next 12 months to secure this backing, and bring about a reformed, revitalised, and resurgent local government sector in the North.”

Outgoing NILGA President Councillor Frances Burton said:

“It has been an immense privilege to be President of NILGA for the past year. I am proud of how we have worked through challenges and difficulties in a positive, proactive manner, and I want to thank my colleagues and fellow NILGA Officer Bearers for their work and dedication this year.”

“While Covid-19 and the response to the pandemic has naturally come to dominate the end of my term as President, we achieved much to be proud of over the past 12 months. We launched the ‘Civility in Public Life’ campaign to highlight the increasing level of public intimidation targeted at elected representatives; we celebrated the achievements of our community representatives at the Translink Ulster in Bloom and RHS Britain in Bloom events; we issued local councils with new guidance to help their workers report modern slavery; and we welcomed the return of the NI Executive.”

“I would also like to echo Councillor Garrett’s sentiments and thank everyone in local government who has worked diligently over the past three months to protect frontline services and serve their communities. The pandemic has highlighted the immense talent and dedication within our councils, and I am humbled by the effort and commitment of our frontline heroes.”

“I wish Councillor Garrett every success for the next year and I will be here to support him and the rest of the NILGA team in any way I can.”

NILGA Chief Executive Derek McCallan added:

“I am looking forward to working closely with Councillor Garrett, plus the 11 councils at member and officer level over the next year. There is no disputing the importance yet fragility of our councils. Support from central government will be vital to mitigating against the worst excesses of the pandemic. This support should reflect that which has been invested in councils in all neighbouring jurisdictions, coupled with a restructured relationship for common good.” 

“After local government kept the lights on in the Assembly’s absence over the past three years, providing key public services and fully functioning democratic representation, a fitting legacy post Covid would be an enhanced and reformed system of government in Northern Ireland. By designing new performance and resource distribution and by every part of government engaging in business transformation, we can reduce the impact of world recession and address it, locally. Immense political bravery plus societal and collaborative effort can make our 11 local councils’ individual hubs of leadership, entrepreneurship, and innovation.”