THE leader of Tameside Council is taking on a new role within the Greater Manchester Combined Authority (GMCA).
It’s one of two new portfolios announced by the Mayor of Greater Manchester, Andy Burnham.
In addition to his responsibilities at the borough’s local authority, Councillor Gerald Cooney is now also the Portfolio Lead for Greater Manchester Pension Fund Investments and the Bee Network Pension Scheme.
The GMCA says the role will focus on “unlocking the full potential of the Greater Manchester Pension Fund as a driver for economic growth” and developing a proposal for a Bee Network pension scheme.
The Greater Manchester Pension Fund – the UK’s largest local government pension fund – is run by Tameside Council and based out of Guardsman Tony Downes House in Droylsden.
Cllr Cooney, who represents the Droylsden West ward, said: “Greater Manchester’s economy is already growing faster than the UK as a whole and I look forward to bringing our years of experience and expertise in managing the fund to bear, to deliver on our economic ambitions and showcase the fund nationally as a driver for UK economic growth.”
With the recruitment of bus drivers a challenge across the UK, Cllr Cooney is also being tasked with creating a new single defined benefits pension scheme open to staff from any Bee Network operator.
The Bee Network is the integrated transport network across Greater Manchester, comprising bus, tram, cycling and walking routes – with rail services set to be joining soon.
He will also contribute to the Treasury Review into Local Government Pension Schemes. The Treasury is responsible for developing and executing the government’s public finance and economic policies.
Cllr Cooney is vacating the Portfolio Lead for Housing – which now becomes Housing First, covering both homelessness and housing.
It will be led by the Deputy Mayor of Greater Manchester, Paul Dennett, who returns to the post having previously overseen it between 2017 and 2022.
The Salford Mayor will lead a new cross-sector Housing First Unit for Greater Manchester – an initiative which aims to “end the housing crisis” by 2038 – and spearhead the drive to deliver 75,000 new homes in the current parliament.
The GMCA is made up of the 10 Greater Manchester councils – including Tameside – and the Mayor of Greater Manchester.
Each council is represented by its elected leader and the Mayor assigns a policy area to each council representative, which they lead on for the whole of Greater Manchester.