During the Scottish Government Debate – Community Wealth Building – Delivering Transformation in Scotland’s Local and Regional Economies – local MSP for the Linlithgow Constituency, Fiona Hyslop, delivered a speech highlighting the importance of community wealth building as part of the wellbeing economy.
Fiona made it clear that community wealth building is a crucial part of developing a new economic growth model of wellbeing as it embraces the strength, ingenuity, enterprise and creativity of local people.
In her speech Fiona recognised that the Community Wealth Building model involves collaboration between local authorities and their community planning partners to ensure that their collective investment decisions will help local economies grow and flourish.
Commenting after the debate, Fiona said;
“I was pleased to speak in this important debate, the first held on Community Wealth Building in the Scottish Parliament, which highlighted the Scottish Government’s support of the development of the wellbeing approach. I welcome the five pillars of Community Wealth Building which are; progressive procurement, fair employment and just labour markets, shared ownership of the local economy, socially just use of land and property and making financial power work for local places.
“Community Wealth Building is an integrated approach to local and regional economic development and as such the ideas and ingenuity of local people and communities is crucial in building sustainable economies, making this model the way forward.
“West Lothian College for example, has utilised the Scottish Government’s Place based investment fund to develop a local skills supply chain for net zero with a passive and retro-fit house, using £493,436 of funding to construct an Eco-House education and training centre.
“Community wealth building as part of the wellbeing economy drive will put people at the centre of its development, redirect wealth back into the local economy and place control back into the hands of local people.”
Full speech available here; https://www.parliament.scot/api/sitecore/CustomMedia/OfficialReport?meetingId=13771