Tag: Community Wealth Building

Views are being sought on ground-breaking proposals to help grow local economies and ensure more money stays in the hands of communities.

The Scottish Government is consulting the public on plans for new Community Wealth Building legislation – the first of its kind in the world – as part of its wider strategy to transform Scotland’s economy.

The consultation, which launched yesterday, will run for 12 weeks and seeks community, business and wider feedback on proposals to:

• place a legal duty on public bodies such as health authorities and local councils to use the economic levers they have – for example in sourcing goods and services – to support the transformation of local and regional economies
• promote co-operative, social enterprise and employee-owned businesses to ensure that more wealth which is generated locally stays local
• create fair work opportunities for local people and those who face barriers to employment
• ensure land and property are used for the benefit of local communities, business and the environment

Community Wealth Minister Tom Arthur launched the consultation at the Red Lion Inn in Culross, Fife, a community-owned pub and key local employer which aims to reinvest its profits back into the community.

Mr Arthur said: “We want to create an economy which delivers prosperity for all of Scotland’s people and places. Community Wealth Building is about enabling people to have a stake in the wealth that their local economy generates. This is central to our plans to reform Scotland’s economy for the wellbeing of current and future generations.

“While Community Wealth Building has grown in popularity in recent years, legislation has the potential to achieve more rapid benefits for communities, helping both people to earn incomes from fair work and more locally-owned businesses to bid for public sector contracts. Money spent locally is more likely to stay in the local economy and support local jobs.

“This public consultation will inform a Community Wealth Building Bill, which we will introduce to Parliament, to achieve these aims.

“I look forward to hearing a wide range of views on how we can use this process to transform our local economies to become greener, fairer and more prosperous.” 

Fife is one of five pilot areas supported to develop Community Wealth Building action plans.

Fife Council Leader Cllr David Ross said: “We are committed to creating a fairer Fife where we grow the local economy and everyone benefits from the wealth generated within our communities.

“That’s what community wealth building is about.  In Fife, in conjunction with local partners, we are already forging ahead with ground-breaking changes to embed community wealth building so that local people, communities and businesses benefit now and into the future.   

“The pilot programme in Fife has seen us implementing progressive procurement practices that are helping local businesses to bid for public sector contracts, making sure more local people receive the living wage and rolling out innovative training and recruitment programmes to ensure people have access to quality local jobs. Our key partners are all signed up to a charter to deliver change.

“Whilst we have seen this significant progress locally, reform of legislation would provide powers for greater change, and we welcome the opportunity to help shape a future Community Wealth Building Bill.” 

Anyone who wishes to have their say on Community Wealth Building legislation can do so here: https://consult.gov.scot/economic-development/community-wealth-building-consultation