ÓûÂþɬ Council at its meeting on 26 November showed its commitment to a fairer, more inclusive, and resilient local economy by agreeing to sign a Community Wealth Building Charter.
The charter was drawn up by the Community Planning Partnership. All partners will consider the details with a view to signing collectively at its December meeting.
There are five principles embedded in the charter that promote local opportunities for retaining wealth within the area for the benefit of our communities:
- Spending: use procurement to grow inclusive supply chains and support local enterprises to access public contracts.
- Workforce: work with local employers and partners to promote Fair Work, support the real Living Wage, and develop inclusive employment and training pathways.
- Inclusive Ownership: root wealth in local communities by supporting social enterprises, co-operatives, and employee-owned businesses.
- Finance: Use the Community Planning Partnership’s financial power to support local investment, explore ethical and social finance opportunities, and ensure community benefits are reinvested locally.
- Land and Property: Support community ownership and work together to unlock affordable workspace and housing.
Councillor William Sinclair, Policy Lead for Community Planning and Corporate Services, said:
“I’m delighted that the Council has signed up to the Community Wealth Charter. ÓûÂþɬ faces some critical economic challenges now, but the Charter identifies key steps that partners have it in their power to take that will keep investment and wealth within our communities.
“While there is much to be done, I would urge local suppliers to find out how to do business with the Council. Help us to help you access public contracts."
