Community Wealth Building Commission

A new group is to lead on an innovative approach which aims to retain more of the area’s wealth within the local economy.

The Community Wealth Building (CWB) Commission will oversee a strategy which aims to give local people and communities greater control over the South Lanarkshire economy and ensure they benefit more from it.

Although the CWB Commission will be chaired by the Council Leader and include senior councillors and council officers, it will also include representatives from the community and partner organisations.

Council Leader John Ross said: “Community Wealth Building is a relatively new concept which starts from the premise that traditional means of economic development and developer-led regeneration are not working in the face of the economic challenges we face today. Too many people are being left behind.

“I am proud that South Lanarkshire is taking a lead in looking at a new approach that focuses on keeping more of the wealth that is generated in our area here, to the benefit of more of our citizens.”

There are five key principles behind CWB:
•    Plural ownership of the economy
•    Making financial power work for local places
•    Fair employment and just labour markets
•    Progressive procurement of goods and services
•    Socially productive use of land and property

The creation of the CWB Commission was agreed at the council’s Executive Committee on Wednesday. The commission will drive forward a CWB Strategy agreed by the committee in March.

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