Cllr. Matt Brown is the Labour Cabinet Member for Social Justice, Inclusion & Policy on Preston City Council . He will be talking to us and answering questions about their Community Wealth Building policy.
John MacDonald MP, the Shadow Chancellor, said about the policy:
““Preston, has developed an extensive programme of work. Preston was one of the councils facing the very sharpest cuts to its funding out of any in the country. But they are responding creatively.
“They have got major local employers and buyers like the University of Central Lancashire – to drive through a local programme of economic transformation. By changing their procurement policies, these anchor institutions were able to drive up spending locally.
“They’re looking to shift a proportion of the joint council’s £5.5bn pension fund to focus on local businesses, keeping the money circulating in Preston.
“And the council is actively seeking opportunities to create local co-operatives as a part of local business succession, working with the local Chamber of Commerce. The aim is to sustain high quality local employment, by giving the chance for workers to keep a business in local hands.
“It’s inspiring to see Labour councils responding to profound challenges like this.”
This event is organised in co-operation with North Lancashire Compass Group.