Councillors in North Lanarkshire have endorsed a draft version of a statement intended to help enhance economic development in the area.
The council’s Community Wealth Building statement is part of an internationally recognised approach focused on growing the influence of communities on the wider economy and ensuring they benefit more from the wealth they generate.
The initiative has five pillars – spending, workforce, land and property, inclusive ownership and finance, and has been adopted by the Scottish Government. A related bill proposing legislation intended to combat wealth inequality is due to be presented to the government in the coming months.
A practitioners network has also been established to work with local authorities and North Lanarkshire Council regularly participates in its quarterly meetings.
The council’s statement has already progressed through a working group which also included healthcare representatives, Voluntary Action North Lanarkshire and the emergency services.
The statement emphasises a commitment to supporting the shared goal of community wealth building to enhance the local economy while being environmentally sustainable.
It has now been endorsed by the council’s enterprise and fair work committee and will be referred to the North Lanarkshire Partnership for final approval at a meeting in December.
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