This paper is a practical tool for local authority politicians, senior officers and economic development professionals responding to the local economic shock of the Covid-19 pandemic. It aims to provide a practical framework to respond to the immediate crisis and the urgent imperative to rebuild local economies which are more fair, inclusive and secure than those that existed before.
It works in tandem with Owning the Future: After Covid-19, a New Era of Community Wealth Building, a paper which has been jointly authored by The Democracy Collaborative (TDC) and the Centre for Local Economic Strategies (CLES). In that paper we lay out the likely impact of Covid-19 on the local economic landscape and begin to sketch out the contours of a new era of community wealth building.
This work was delivered with support from the Friends Provident Foundation
This paper has been jointly authored by The Democracy Collaborative (TDC) and the Centre for Local Economic Strategies (CLES).
Our work – in parallel on both sides of the Atlantic to develop new strategies to advance community wealth building – has enabled it to become a movement in its own right. With the Covid-19 crisis, we face a major public and economic event of historical importance, potentially unprecedented in its magnitude in peacetime. In the face of this, community wealth building policy and practice must shift to meet the scale of the crisis, rapidly building a new institutional power base for a new politics of community control from the ground up.
In part one of this paper, we will lay out the likely impact of Covid-19 on the economic landscape which community wealth building must now serve. In part two, we will begin to sketch out the contours of a new era of community wealth building.