Councillors in North Lanarkshire endorse draft statement intended to help enhance economic development

Councillors in North Lanarkshire have given their approval to a draft statement aimed at boosting economic development in the region. The council’s Community Wealth Building statement is part of an internationally recognised strategy that aims to empower communities to have a greater impact on the economy and reap more benefits from the wealth they generate. This initiative is built on five pillars: spending, workforce, land and property, inclusive ownership, and finance, and has been embraced by the Scottish Government. A bill proposing legislation to address wealth inequality is expected to be presented to the government in the near future.

Besides, a practitioners network has been set up to collaborate with local authorities, with North Lanarkshire Council actively participating in its quarterly meetings. The council’s statement has undergone thorough review, involving various stakeholders such as healthcare representatives, Voluntary Action North Lanarkshire, and emergency services. The statement underscores the council’s dedication to supporting community wealth building to boost the local economy in an environmentally sustainable manner. Following approval by the council’s enterprise and fair work committee, the statement is set to be presented to the North Lanarkshire Partnership for final endorsement at a meeting scheduled for December.

Moreover, the council’s commitment to enhancing economic development through community involvement is a positive step towards ensuring that local communities benefit more from the wealth they generate. By adopting a holistic approach that involves various sectors and stakeholders, North Lanarkshire Council is demonstrating its proactive stance towards inclusive economic growth and sustainability. This initiative aligns with broader government efforts to address wealth disparities and empower communities to play a more significant role in shaping their economic future. As such, the endorsement of the draft statement represents a significant milestone in the council’s ongoing efforts to promote economic development and community prosperity in North Lanarkshire.