To truly and properly bounce back from the pandemic, living conditions for young and old need to be newly envisioned to build a better society for everyone, as opposed to fostering isolation among those already struggling.
To build the cities of the future, then, we need to work out where there is a need for investment, both geographically and by investment type, and one of the best ways to do this is to work with local authorities across the UK. Not only does this ensure we invest and build in the cities that need it most, but it means future inhabitants of the city will benefit from resources dedicated to that local authority. And crucially, as Pete Gladwell, Head of Public Sector Partnerships at Legal & General, explains: “The authority has a democratic mandate, so by engaging with them we are engaging with the will of the people. That’s why local authorities will always be a hugely important part of us trying to identify where the social need for an investment is.”
Investing where there is a long-term social need also reduces the financial risk associated with the investment, because the need for investment has been clearly identified and therefore the investment remains valuable to society.