The Cabinet Member for Finance and Resources introduced a report which outlined the Community Wealth Building Strategy for Wirral Council.  Community Wealth Building reorganised local economies to be fairer and stopped wealth flowing out of communities.  It sought to place control of this wealth into the hands of local people, communities, businesses and organisations, and could benefit health inequalities across the Borough. There were three objectives –

1.  Democratic Economy, with a shift in decision making power;

2.  Generative Economy, built on stakeholder ownership to generate and preserve real wealth that is shared by communities; and

3.  Financial Resilience, where families and communities that hold assets are more able to withstand setbacks. The report detailed outcomes and the activities to achieve the objectives.

Through work with the Centre for Local Economic Strategies (CLES), five areas had been identified to build community wealth, and what else was needed to achieve the outcomes.

Members praised the proposal and felt that it would become a standard to be aspired to by other areas and would be embedded in thesocial value plan in the Wirral Growth Company.

Resolved -

That the Community Wealth Building Strategy be adopted.