David Burch Senior Researcher, CLES @nmcinroy @CLESthinkdo.

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Presentation transcript:

David Burch Senior Researcher, CLES @nmcinroy @CLESthinkdo

Centre for Local Economic Strategies Leading independent member and research organisation, realising progressive economics for people and place. 35 years old. Our aim is to achieve social justice, good local economies and effective public services for everyone, everywhere. Part of Global movement Oikonomos Local hankering/ GLOBAL 2

Growth ain’t delivering

Wealth Inequalities 50% of London's wealth is owned by the richest 10% of its households. The bottom 50% own just over 5%. 295x greater is the wealth for someone in the top 10% in London in comparison to someone in the bottom 10%

Part of Global movement Oikonomos Local hankering/ GLOBAL 5

FOUNDATIONAL ECONOMY: ECONOMIC PLUMBING!

Community Wealth Building? LOCALISE. SOCIALISE. DEMOCRATISE Intentional desire to reshape economy. Create an economy where wealth is broadly, not narrowly held. Wealth with local roots and ownership. LOCALISE. SOCIALISE. DEMOCRATISE 7

Importance of Colleges They have a core role in human and social development Like all place based anchors: Employ people, buy things, own assets, and they ain’t leaving or taking wealth off to the caymans!

5 pillars of Community Wealth Building? 9

Extractive/ generative spectrum A new paradigm: welfare state past its prime?

A new paradigm: welfare state past its prime?

A new paradigm: welfare state past its prime?

Preston 2012- A 6 year journey….. Failure of tithe barn Traditional regional economics Preston 2012- A 6 year journey…..

Preston: Starting point 5% £750m of spend within the Preston City Council boundary 39% Total spend of all 6 anchors 12/13 of spend within the Lancashire economy

The change: Preston and Lancashire county 18% £616m of spend within the Preston City Council boundary £70M Total spend of all 6 anchors 16/17 £200M 80% of spend within the Lancashire economy

Results! Created 1600 jobs 4000 more people being paid real minimum wage Raised Preston out of the bottom 20% in terms of the index of multiple deprivation Used public pension fund to invest in a hotel development New platform cooperative model, built with assistance from Mondragon, Basque country.

Wales 2018 -

Community wealth building in Wales Consultation complete Plan to enable public service boards in Wales to adopt a progressive approach to procurement To drive social value through the procurement progress to achieve a more inclusive economy for people and place Assistance from Foundational Economy Fund

Centre for Local Economic Strategies Email. neilmcinroy@cles.org.uk Website. www.cles.org.uk Twitter. @nmcinroy or @clesthinkdo Phone. (0044) 161 832 7871