Scotland

Community wealth building in Scotland

This post originally appeared on the website of Scotland’s Centre for Regional Inclusive Growth.

Inclusive economic growth is a key aspiration for Scotland, as set out in the country’s Economic Strategy. Scotland aims to grow a sustainable and successful economy whilst tackling inequalities. To realise these aspirations, the fast-moving community wealth building movement offers a practical, common sense local place approach.

The community wealth building approach starts with a strong focus on wealth. We know that Scotland is a relatively wealthy country, however wealth here has grown much faster than income. This disparity has disproportionately benefitted older people. Those born in the second half of the 1970s have a third less wealth than those born in the first five years. Furthermore, wealth distribution is geographically and socially uneven, with the top 10% owning a staggering 200 times more wealth than the bottom 10% (a median wealth of £1.3m compared to £6,000). Indeed, the wealthiest 10% own 43% of all wealth in Scotland, with the least wealthy 40% only owning 5%[i].

  • Places have relationships

    CLES has been working as part of a consortium with Carnegie UK Trust, University of Stirling and the Scottish Towns Partnership. Commissioned and funded by Carnegie UK Trust and the Scottish Government, the consortium have now devised the UK’s first and unique online tool, which has facts and figures for all 479 towns and cities across Scotland.