The Preston Model

[[Community wealth building]].

A form of [[municipal socialism]].

What is it?

Community wealth building utilises:

• anchor institutions
• living wage expansion
• community banking
• public pension investment
• worker ownership
• municipal enterprise tied to a procurement strategy at the municipal level.

(via Community wealth building - Wikipedia)

a holistic framework for integrating community, cooperative, and public assets into a mutually supporting system of local economic prosperity

– Infographic: The Preston Model

An attempted transition to [[localism]] and [[cooperativism]] inspired by Cleveland in the US and [[Mondragon]].

[[Anchor institutions]] are big part of it. For example, council, university, hospital, investing in the local area.

Outcomes/Benefits

It is estimated that the Preston model has added £200 million to the city’s economy while significantly reducing unemployment.

– [[Can municipal socialism be Labour’s defence against ongoing austerity?]]

Resources

• Infographic: The Preston Model
• ‘Poverty was entrenched in Preston. So we became more self-sufficient’ | Loca…
• In 2011 Preston hit rock bottom. Then it took back control | Preston | The Gu…
• The Alternatives: how Preston took back control – podcast | Politics | The Gu…