Community wealth building

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Community wealth building is a term which covers a range of approaches which "...aim at improving the ability of communities and individuals to increase asset ownership, anchor jobs locally by broadening ownership over capital, help achieve key environmental goals, expand the provision of public services and ensure local economic stability”.[1] The original model, the Cleveland Model, was developed in Cleveland, United States, however the Cleveland Model has also been developed and applied with the creation of the "Preston Model", in Preston, Lancashire.[2][3] It is a form of municipal socialism which utilises anchor institutions, living wage expansion, community banking, public pension investment, worker ownership and municipal enterprise tied to a procurement strategy at the municipal level.[3][4][5]

Preston Model[]

The Preston Model is an approach to community wealth building pioneered by Preston City Council, Lancashire, England.[3] It is a form of municipal socialism which utilises anchor institutions, living wage expansion, community banking, public pension investment, worker ownership and municipal enterprise tied to a procurement strategy at the municipal level.[3] It is based on projects developed in Cleveland, Ohio and Mondragon, Spain.[5][6] Councillor , originally Executive Member for Social Justice, Inclusion and Policy, played a key role in developing the model with his colleague Councillor Martyn Rawlinson, working in conjunction with the . The first issue they tackled in 2012-2013 was to localise their procurement spend in Preston and the surrounding county of Lancashire.[4] Former Shadow Chancellor of the Exchequer John McDonnell was a vocal supporter of the project during his time on the frontbenches.[6]

Criticism[]

The plan has been criticised by some members of Preston City Council. The leader of the council Liberal Democrat group described it as a 'marketing gimmick' that has not had a substantial effect on the local area, and that locals are not interested in project. Critics have also pointed out Preston relies heavily on multi-national companies for employment, and that local procurement isn't the answer to everything, despite being a useful tool.[6]

See also[]

References[]

  1. ^ Peck, Jules. "Putting Banking Back in the Hands of thePpeople - RSA". www.thersa.org. Royal Society of Arts. Retrieved 15 July 2019.
  2. ^ Schaefer, Lisa. "The Preston Model of Community Wealth Building in the UK". Centre for Public Impact. Centre for Public Impact. Retrieved 15 July 2019.
  3. ^ a b c d Hanna, Thomas M.; Bilsborough, Joe; Guinan, Joe (2018). "The 'Preston Model' and the modern politics of municipal socialism". openDemocracy (12 June 2018). Retrieved 28 June 2019.
  4. ^ a b Hopkins, Rob (16 June 2015). "The inspiring tale of the re imagining of Preston's economy". Transition Network. Transition Network. Retrieved 14 July 2019.
  5. ^ a b Sheffield, Hazel (2017). "The Preston model: UK takes lessons in recovery from rust-belt Cleveland" (11 April 2017). The Guardian. Retrieved 28 June 2019.
  6. ^ a b c "Preston council: English city hopes recovery fortunes lie in Spanish model". BBC News. 2021-11-07. Retrieved 2021-11-07.

External links[]


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