Community wealth building

Paint your town a rainbow

This article originally appeared in the MJ

Community wealth building is on the rise. As an intentional reorganisation of the local economy, to tackle inequality and disadvantage, it is needed now more than ever to address the significant challenges that are being felt so acutely in our homes and communities.

Dating back to the mid noughties, CLES’s work on aspects of community wealth building have developed into a powerful corrective to an economic model that has left too many people worse off, enriched the already wealthy few and propelled us further down the road to ecological disaster.

PROVOCATION

Making levelling up a reality

31st March 2021

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GUIDE

Implementing Community Wealth Building

1st March 2021

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Podcast: J. Phillip Thompson

In this special episode, we are sharing J. Phillip Thompson’s keynote address from our Community Wealth Building Summit in November 2020.

Phillip is the Deputy Mayor for Strategic Policy Initiatives in New York City and the author of Double Trouble: Black Mayors, Black Communities, and the Call for a Deep Democracy. In the podcast he explains his thoughts on the US election, the huge racial divides that are running rampant in the country, his plans for New York City and campaigns for community wealth building, rebuilding the post-COVID economy in a more equitable fashion, the problems in the current economic system in NYC, building an economy that suits the workers and communities across the US, and more.

Summit 2020: A more economically democratic recovery

New year, new economy! As we adjust to the bright lights of 2021 the CLES team are looking forward and exploring the prospect of local economic reform as we commence the long journey to Covid-19 recovery. In this spirit we’re sharing write ups of our policy breakout sessions from November’s Community Wealth Building Summit. In the last of this blog series Rachel Bentley considers how the economy can be more broadly held through plural ownership models.

Even before Covid-19, the UK was already one of the most unequal countries in the world in terms of both income and wealth. This trajectory of inequality has been worsening for decades and the pandemic has now both revealed and exacerbated these inequalities. As we face an era of business failure and unemployment that will be compounded by Brexit, what role can plural ownership play in fostering a more economically democratic recovery?
“enable wealth created by communities to be held by them, rather than flowing outwards”
Plural ownership of the economy is one of the five pillars of community wealth building. This pillar seeks to promote locally owned and socially minded enterprises. It encourages more diverse models of enterprise ownership that enable wealth created by communities to be held by them, rather than flowing outwards into the pockets of distant shareholders.

Summit 2020: Procurement for economic reform

Ding dong, 2020 is nearly over and we here at CLES are thinking about hope in the darkness and the prospect of local economic reform as we commence the long journey to Covid-19 recovery. In this spirit we’re sharing write ups of our policy breakout sessions from November’s Community Wealth Building Summit. Today Amanda Stevens looks at the role of progressive procurement in supporting local employment and recirculating wealth and surplus locally.

In this interesting session there was broad agreement by the panel and delegates that a change in perceptions about procurement is needed: procurement professionals should be encouraged to think beyond bureaucratic and technical considerations and to consider procurement as a lever to address economic, social and environmental challenges.

Summit 2020: Land and assets for resilience

With only two days left of 2020, we here at CLES are thinking about hope in the darkness and the prospect of local economic reform as we commence the long journey to Covid-19 recovery. In this spirit we’re sharing write ups of our policy breakout sessions from November’s Community Wealth Building Summit. Following on from John and Ellie’s blogs, today Stuart MacDonald looks at how socially productive uses of land, property and assets can support post Covid-19 local economies.

How land and property assets are owned and managed is key to local economic outcomes. Concentrated land ownership, property speculation and landlord absenteeism all drive inequality. Wealth gained from land and property leaks out of local economies, contributing to a lack of resilience, as well as being incompatible with social and environmental progress.

Summit 2020: Collaborate like mad

Before 2020 draws to a close, we here at CLES are thinking about hope in the darkness and the prospect of local economic reform as we commence the long journey to Covid-19 recovery. In this spirit we’re sharing write ups of our policy breakout sessions from November’s Community Wealth Building Summit. Following yesterday’s blog from John Heneghan on labour market reform, Eleanor Radcliffe reflects on the discussion on making financial power work for local places.

Finance is one of the core pillars of community wealth building, the life blood of our local businesses and crucial when considering the future of our local economies. However, the UK’s banking sector is currently orientated to global markets, not local investment and development and in recent years we have seen a stagnation of lending to local businesses and increasing disconnection from local communities. With a sector that was already not fit for purpose prior to Covid-19, the pandemic has been a reminder of how badly served our local economies are by the financial sector and has resulted in an increasing consciousness of the challenges faced by local businesses trying to operate and compete with larger firms.

Summit 2020: Moving forward on labour market reform

As we draw to the close of this most turbulent year, we here at CLES are thinking about hope in the darkness and the prospect of local economic reform as we commence the long journey to Covid-19 recovery. In this spirit we’re sharing write ups of our policy breakout sessions from November’s Community Wealth Building Summit. First up, John Heneghan shares his reflections on our session on the role of labour market reform.

Our Summit session on explored the need for labour market reform in the context of Covid-19. This wide ranging and thought-provoking session explored the potential for anchor institutions to drive community wealth building approaches to create a fairer and more equitable labour market through workforce initiatives, procurement and supply chain activities and employment and skills support.
“the labour market positives experienced in the early stages of the pandemic […] need to be locked in”
Mary Robertson, Senior Policy Officer at the TUC, argued that, while the labour market positives experienced in the early stages of the pandemic – a greater demonstration of the importance of key workers, the power of state intervention, the recognition that things can be done differently and the scope for home and flexible working. – need to be locked in, overwhelmingly the impacts of the pandemic on workers have been negative, creating huge challenges.