Member

This approach is also being embedded in local economic strategies elsewhere. In cities and boroughs such as Brighton and Hove and Islington, community wealth building has been adopted across political parties as a way of ensuring that public spending supports local businesses, local jobs and local supply chains. As one local authority leader put it recently, the aim is simply to make prosperity local to ensure that money spent in an area benefits the people who actually live there. The amendment also includes a provision allowing strategic authorities to request powers to apply local levies to private equity involvement in public services. It is about giving local leaders a mechanism to limit excessive extraction where it undermines local value and resilience.