Growing the Cooperative economy through Community Wealth Building

• 28th Mar 2023
• Community Wealth Building

As our communities continue to build back from the pandemic and continue to struggle with the ongoing cost of living crisis, Preston City Council's commitment to providing a fairer and inclusive city for all its residents is as important as ever.

One of Preston’s main priorities is to provide an economy that supports prosperity and promotes fairness in working lives and practices. One of these ways is championing co-operative working through Community Wealth Building (CWB) principles, sometimes known as the ‘Preston Model’.

CWB is about creating a resilient and inclusive economy for the benefit of the local area, providing value for our communities wherever possible. While the principles of Community Wealth Building cut across the entire organisation, key areas of work currently include:

• Progressive procurement – How we spend money
• Social Value – Benefits for the local area, such as employment, skills, real living wage, environmental impact, and greater wellbeing
• Democratising the economy – Cooperatives, economic inclusion, greater opportunities for all
• Preston Real Living Wage – Paying all employees a fair and reasonable wage

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