The Preston Model

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Community wealth building.

A form of municipal socialism.

1 What is it?

Community wealth building utilises:

  • anchor institutions
  • living wage expansion
  • community banking
  • public pension investment
  • worker ownership
  • municipal enterprise tied to a procurement strategy at the municipal level.

(via Community wealth building - Wikipedia)

a holistic framework for integrating community, cooperative, and public assets into a mutually supporting system of local economic prosperity

Infographic: The Preston Model

An attempted transition to localism and cooperativism inspired by Cleveland in the US and Mondragon.

Anchor institutions are big part of it. For example, council, university, hospital, investing in the local area.

2 Outcomes/Benefits

It is estimated that the Preston model has added £200 million to the city’s economy while significantly reducing unemployment.

Can municipal socialism be Labour’s defence against ongoing austerity?

3 Resources

4 Elsewhere in the garden

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