World first Community Wealth Building Bill

The Scottish Governemnt has officially announced its Community Wealth Building Bill. When passed, this world-first piece of legislation will be a major step in reshaping how wealth is generated and retained within Scottish communities.

It is a pioneering initiative designed to strengthen local economies, create jobs, and attract more investment into communities.This legislation will require councils, NHS boards, and other public bodies to take action to support local businesses and communities through:

• Producing more goods and services locally
• Promoting employee-owned businesses, co-ops, and social enterprises
• Enabling community groups to take on and regenerate vacant sites
• Championing fair work practices, including the real Living Wage

As Investment Minister Tom Arthur said: "This unique legislation will help to increase investment in local economies so that they become fairer, greener and more prosperous."

You can read the bill here.

You can read Naomi Mason's latest blog here. Naomi is a Senior Researcher for Scotland and she works with Centre for Local Economic Strategies. In her blog, she reflects upon:

• What the new legislation means for Scotland’s local economies
• How councils and communities can leverage it for real change
• Lessons the rest of the UK can take from this bold approach

For more insights on Community Wealth Building, visit EDAS' Centre for Excellence: Community Wealth Building Scotland | EDAS.