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  • Community Wealth Building consultation

    Created: 01/02/2023, Updated: 02/02/2023
    News/Events Category: General News

    The Scottish Government has launched a consultation to hear public views on the development of 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 will run for 12 weeks until 25 April 2023 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; and
    • ensure land and property are used for the benefit of local communities, business and the environment.

    Tom Arthur, Scottish Community Minister, 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 repaid 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.” 

    Five pilot areas are also being supported with the development of Community Wealth Building action plans, one of them being Fife. Leader of Fife Council, 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 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.” 

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