Consultation Open on New Community Wealth Building Bill
A Government bill has been introduced at the Scottish Parliament outlining a strategic foundation for community wealth building in Scotland, and aims to ensure consistent implementation of the community wealth building model across Scotland.
Earlier this month a consultation on the Bill was opened, affording the public the opportunity to share their views.
What is Community Wealth Building?
Community wealth building is a progressive approach to economic development (adopted by the Scottish Government) that harnesses the power of ‘anchor organisations’ to grow and retain wealth within a local economy. Anchor organisations are public, private, or third sector bodies that have influence on their local area through their spending power, finances, and economic connections. Local authorities, the NHS, large private sector employers, and universities, could all be considered anchor organisations.
In practice, CWB might involve a local authority procuring locally, or a large private sector organisation paying the real living wage. CWB can take many forms, what matters is that organisations with significant influence on economic outcomes use that influence in a way that benefits their communities.
What Does the Bill Say?
All of Scotland’s local authorities are currently working with their own CWB models, which are not necessarily underpinned by a formal framework. The purpose of the Bill is to ensure that CWB is implemented consistently across Scotland. There are three key proposals within the Bill:
Placing a duty on the Scottish Ministers to publish a CWB statement which sets out the measures they will take to facilitate CWB.
Requiring local authorities and ‘relevant public bodies’ to publish and implement a CWB plan for their area.
Requiring ‘specified public bodies’ to have due regard to CWB guidance when developing their corporate plans and associated delivery strategies.
The public have now be invited to share their views on whether the Bill will achieve its aims, how it could benefit communities, and if there are potential unintended consequences of the legislation.
You can find more information on the Bill, and share your views here