Last week’s debate in Holyrood on the Community Wealth Building (Scotland) Bill was more than just procedural politics — it was a moment of opportunity. As Richard Leonard MSP powerfully argued, this bill shouldn’t be about tinkering with economic policy: it’s about a bold vision of economic democracy rooted in co-operation, shared ownership, and local power.

Given that the Bill had been considered by the Economy and Fair Work Committee that committee’s Convener, Daniel Johnson led on the committee’s Stage 1 report, he highlighted the Committee’s views on how the Bill needs to be improved.

At the heart of community wealth building lies the fundamental principle that the wealth generated in our communities should remain in our communities. The Bill’s stated aim is precisely that: “facilitating and supporting the generation, circulation and retention of wealth in local and regional economies.” Public bodies will be required to produce action plans, anchor institutions will reorient procurement, and local authorities will be tasked with retaining and reinvesting wealth locally.

But such ambition only has real meaning if we embed inclusive ownership — that is, truly democratic business models — into that framework. That’s why Richard Leonard’s call for co-operatives, employee-owned firms, and social enterprises is so vital. In his speech, he looked back to the radical tradition of Robert Owen and the Fenwick Weavers, pointing out that we could build a “Mondragón of the North”: a Scotland where workers and communities own and govern the economy.

This is not fanciful dreaming. The Bill’s own policy memorandum includes inclusive ownership as one of its five core “pillars” — alongside spending, workforce, land & property, and finance. Co-operatives and democratic business models are explicitly named as practical levers for change.

Imagine a Scotland in which public bodies prioritise procurement from worker-owned firms or co-ops. Imagine derelict land passed into community ownership, not sold off to absentee investors. Imagine a system where, when a business is up for sale or facing closure, workers have the first right to buy it, finance it collectively, and chart its future democratically. That was precisely the vision Leonard laid out: a statutory Co-operative Development Scotland with real teeth — investment, technical support, and legal powers.

We need to challenge public bodies to re-think procurement rules, advocating for reserved contracts for co-operatives and democratic enterprises. These are more than symbolic gestures — they’re structural changes that can rebalance power, lock wealth into local communities, and foster sustainable, resilient economies.

But Richard Leonard was also clear-eyed: the bill, as currently drafted, is only the beginning. He warned that without stronger legal rights — such as compulsory purchase reforms, worker rights to buy, and community control of public assets — the Bill risks being too timid. Moreover, he stressed the need for robust resourcing so that local authorities, community organisations, and co-operatives can actually deliver on the promise.

We will be looking to work with Scottish Co-operative Party MSPs and others to ensure that amendments are put forward that will make the Community Wealth Building worthwhile. The current Scottish Government is very good at producing strategies and reviews but what we need are policies that will make a real difference to Scotland’s economy and society. Rhetoric needs to be matched with actions.

As Co-operative Party members, we know that co-operatives are not a niche model — they are engines of social justice, economic resilience, and community dignity. When we talk about community wealth building, we must insist that democratic business models are not optional extras, but core to the mission.

This Bill gives us a crucial lever. But only through political will — and our collective energy — can we ensure it becomes a transformative force. Let us press for a Scotland where the Community Wealth Building Bill really makes a difference and leads to growth in the co-operative economy.