The policy
Many local economies are struggling, and nowhere is that more evident than on the high street. Even before the pandemic, town centres were under pressure, but in 2020 alone more than 17,500 chain store outlets closed across British high streets – an average of almost 50 every day.
One of the reasons is ownership. Businesses owned by distant corporate owners are far more likely to pull out of an area when business takes a hit – weakening local economies and contributing to high street decline.
Too often, the response has been to look for investment from outside – hoping that large companies will move in and revive local areas. But this approach often brings insecure jobs and profits that leave the community just as quickly as they arrived.
We need a different approach. A co-operative approach that builds strong local economies from the inside out.
By contrast, co-operatives, credit unions and mutuals are rooted in place. Because they are owned by their members, they are more resilient, more accountable and more likely to reinvest in the communities they serve. Instead of extracting profits, they keep wealth circulating locally: supporting inclusive local economies and sustainable regional growth.
That means when traditional businesses might downsize, relocate or shut their doors, co-operatives are more likely to stay, adapt, and continue serving their community. And when high street banks turn down local businesses for a loan, it is often could be community finance institutions like credit unions that step in to provide the support local businesses need to survive, thrive and grow.
We don’t need to wait for someone else to come in and fix our local economies. The answers are already in our communities. This is how we rebuild our high streets and strengthen our local economies – not by relying on distant investors, but by backing local people, local businesses and local ownership.
Doorstep line
We need to build a local economy where wealth stays in our community – supporting local businesses, creating local jobs and reviving our local high street.
The politics
High streets should be the beating heart of our communities. They’re where we do the weekly shop, pick up prescriptions or grab a coffee. They’re the backdrop to everyday life, so it’s no surprise that when people think about their community and their local economy, they often think first about their high street.
That’s why the state of the high street is one of the clearest signals voters use to judge whether things are getting better or worse in their area. When shops are shuttered and buildings are left empty, it tells people their community is being left behind. When high streets are thriving, it creates pride, confidence and a sense that the local economy is working.
That makes this an electoral issue as much as an economic one.
But for too long, our high streets have been in decline. Shuttered shops are not a new problem – so the solution cannot be a return to the status quo.
The Co-operative Party has long argued that co-operative ownership can help revive struggling town centres – turning empty shops into community assets and giving local people a real stake in their high streets. That also means Co-operative council candidates have a unique story to tell on supporting local economies and local growth.
Our approach sets us apart from other parties. While other parties may be on the side of the big businesses and developers that have hollowed out our high streets, we are on the side of local businesses and local people. We know that our communities have the talent to start new businesses that create local jobs and circulate local wealth – but they need support to do it. Co-operative councils can unlock that support.
And this approach is already working. In communities across the UK, co-operative businesses and community ownership are helping to bring high streets back to life, create jobs and keep wealth circulating locally.
The offer to our voters isn't just the same old promises of high street regeneration: we want to completely reimagine the high street and make sure they are owned by, and work for, the communities they serve.
The role of Local Government
There are many ways that local councillors can support their local economy by encouraging the growth of locally-owned businesses and keeping wealth circulating within their communities.
Local government can:
- Use economic development strategies to prioritise co-operative and locally owned businesses
- Invest in co-operative development support to help new businesses start and grow
- Support credit unions and community finance to expand access to fair, local financial services
- Use council buildings and local infrastructure to support community-based organisations
- Back community ownership of local assets, from shops and pubs to housing and energy
- Ensure regeneration funding supports long-term local benefit, not short-term extraction
Manifesto ideas
Here's some ideas that you could include in your local manifesto. To find out more, use our "Build your own Co-operative Manifesto" tool.
- Ensure co-operative development forms part of local authority economic development strategies.
- Use centrally allocated economic development funding to build co-operative development support capacity. This capacity could be delivered by specialist partner organisations to provide co-operative and social economy booster programmes.
- Establish or support a local co-operative development agency or co-operative development network.
- Provide council staff with access to a payroll deduction at a local credit union.
- Provide space for credit unions in council buildings and in future banking hubs.
- Support the development of new credit unions or community banks.
- Set up an Economic Recovery Fund targeting high street regeneration.
- Establish Community Improvement Districts (CIDs).
Campaign lines
If you're looking for campaign lines to use on the doorstep or in your leaflets, here's some ideas below.
- High streets should be the beating heart of our communities. They’re where we do the weekly shop, pick up prescriptions or grab a coffee. They’re the backdrop to everyday life, so it’s no surprise that when people think about their community, they often think first about their high street.
- But for too long, our high streets have been in decline.
- Shuttered shops are not a new problem – so the solution cannot be a return to the status quo.
- If we want to unlock the potential of our high streets, we need to breathe new life into them. That means giving communities real power to shape the places they call home.
- Our town centres should be filled with shops and services that local people actually want and can rely on for the long-term.
- Co-operatives have a vital role to play in making that happen.
- Because co-operatives are owned and run by the people who use them, they are rooted in their communities. They respond to local needs, keep wealth circulating locally and help ensure the businesses our high streets depend on are there for the long-term.
- The Co-operative Party has long argued that co-operative ownership can help revive struggling town centres - turning empty shops into community assets and giving local people a real stake in their high streets.
- We need a new direction for our high streets: a co-operative direction.
Example Facebook post
High streets should be the beating heart of our communities: where we do the weekly shop, pick up prescriptions, grab a coffee. But for too long, they've been in decline.
Shuttered shops are not a new problem, so the solution cannot be a return to the broken status quo.
The usual answer is to wait for outside investment, hoping big companies will move in. But that often brings insecure jobs and profits that leave the community just as quickly as they arrived.
Co-operatives are different. Because they're owned by the people who use them, they're rooted in place. They respond to local needs, keep wealth circulating locally, and are there for the long term.
As your Labour & Co-operative candidate, I want to see [AREA]'s high street owned by and working for the people who live here.
Example Instagram post
Our high streets deserve better.
The usual answer is to wait for outside investment, hoping big companies will move in. But that often brings insecure jobs and profits that leave the community just as quickly as they arrived.
Co-operatives keep wealth local. Owned by their members, rooted in their communities, built to last.
That's the Co-operative difference, and it's what I'm standing for in [AREA].
Example X post
The usual answer to struggling high streets is outside investment – but businesses owned by distant shareholders pull out when times get tough.
Co-operatives stay: owned by their members, rooted in their communities, and keep wealth circulating locally.
Example Bluesky post
In 2020 alone, more than 17,500 chain store outlets closed across British high streets – nearly 50 a day.
Co-operatives, credit unions and mutuals are built to stay. Owned by members, accountable to their communities, reinvesting locally.
Shuttered shops aren't inevitable.
Promoted by Joe Fortune on behalf of the Co-operative Party, both at Unit 13, 83 Crampton Street, London, SE17 3BQ, United Kingdom. Co-operative Party Limited is a registered Society under the Co-operative and Community Benefit Societies Act 2014. Registered no. 30027R.
Draft social media posts
Here's some sample posts you could include on social media.