Meeting of the Parliament 10 February 2026 [Draft]
Mercifully, Mrs Hepburn has not yet brought to my attention any TikTok videos about my endeavours, but there might be time yet.
At its heart, community wealth building is the simple but powerful proposition that our local economies should work better for the people and communities who live in those areas. When wealth is generated, circulated and retained locally, we create opportunities—there are more good jobs and stronger businesses, and profits are reinvested in the places that produced them in the first place.
Therefore, the bill represents an opportunity to address economic and wealth inequality. It will do so not through some abstract theory but through practical action that supports the generation, circulation and retention of wealth in local and regional economies across Scotland. In that way, we will help to create the circumstances in which communities and people can own, access and more directly benefit from the wealth that our economy creates.
The central aim of the bill is to establish a new and consistent platform for local economic development. It recognises the economic agency of every pound of public money.
Public spending is not neutral. It can shape markets, it shapes supply chains and it can shape opportunity. That is why I welcome the placing of partnership at the bill’s core—bringing together the public sector, businesses, the third sector and communities in pursuit of sustainable and inclusive growth.
Through community wealth building, Scotland can create the conditions in which local businesses thrive—in which resilience, innovation and local investment reinforce one another. When investment supports the resilience of local employers, when good work is created close to home and when profits are reinvested in communities, we help to build an economy that delivers prosperity across economic, social and environmental dimensions.
Investment from elsewhere is to be welcomed, but we know that capital can be transient. Making it stay as rooted as possible in local communities should be an objective that the Parliament shares. The bill will ensure that that approach is implemented consistently across Scotland. It places clear duties on Scottish ministers, local authorities and other public bodies to publish and deliver statements, action plans and guidance. It will empower democratically elected local authorities to lead meaningful reform without imposing unnecessary bureaucracy on them—striking the right balance between national consistency and local flexibility.
One of the bill’s strengths is its focus on anchor organisations. Whether they are public bodies such as local authorities, the national health service, universities and enterprise agencies, or major private and third sector employers, those institutions have deep roots in their communities and significant economic influence. By leveraging their procurement spend, employment practices, land and property assets and, in some cases, legal powers, anchor organisations can stimulate local economic activity, shorten supply chains, create jobs and strengthen regional resilience.
The bill is grounded in five clear pillars: spending that maximises local benefit; a workforce that is built on fair work principles; land and property that deliver social and ecological value; inclusive ownership through co-operatives and social enterprises; and finance that serves local people, communities and businesses. Together, those pillars form a coherent framework for change.
Ultimately, the bill is about fairness, resilience and shared prosperity. It is about ensuring that the wealth that is created in Scotland better benefits Scotland’s people and places. It is about recognising that local partners and communities are best placed to understand their own challenges and opportunities, and giving them the tools and flexibility to act.
Community wealth building is not a passing initiative but a long-term commitment to reshaping our economy so that success is widely shared and locally rooted. I recognise that there might be more to be done and that the bill might be just the start. However, by passing it today, we will take a decisive step towards an economy that works for people, communities and Scotland.