Published: 6th Jul 2020

The Centre for Local Economies Studies (CLES) has called on local authorities to play a more pro-active role with a greater emphasis on community wealth building. In a new report out today, the think tank calls on councils to use their purchasing power and assets to ‘advance the cause of social and economic justice for all’. The report argues that ‘the time has come to reset local economic development by placing community wealth building at the heart’ of the post COVID-19 recovery effort. It calls on local authorities to help reshape local markets and help grow a diversity of generative organisations, which can invigorate local supply chains, ensure healthy competition and reduce the dominance of ‘extractive operators’. The report also calls for ‘public good’ services, such as electricity, public transport and care, to be fairly priced and accessible to all. It also calls for local authority pension funds to help … (To read the full article, subscribe below)