How a ‘world’s first’ step could fuel a quiet revolution for local economies
General trends in policymaking in recent years have run counter to much of Community Wealth Building’s ethos. The consolidation of community‑controlled housing associations into larger regional bodies, the consolidation of police, fire and ambulance services in Scotland, driven by regulatory and financial pressures, has already seen reduced local democratic control in some places. This new Act does not directly address those dynamics, raising the risk that Community Wealth Building becomes a language used by ever‑larger institutions, rather than a mechanism for shifting power towards communities themselves.
The lesson from Scotland’s journey so far is that this new law is probably necessary, but not sufficient. If Community Wealth Building in Scotland becomes a vehicle for genuine plural ownership, fair work and democratic control over land and finance, it could offer a model for countries wrestling with the same crises of inequality, climate breakdown, democratic deficit, and political mistrust. If it stalls at the level of strategies and slogans, it will be remembered instead as a missed opportunity: proof that even the best and well‑intentioned reforms cannot overcome deep economic and constitutional constraints without bolder shifts in power and resources.
Either way, the hard work in forging a ‘quiet revolution’ for local economies starts now.