Islington has a strong and dynamic economy, many parts of which continue to thrive. However, our economy does not work for everyone: too many local people experience poverty and disadvantage and too many local businesses struggle to overcome barriers to growth. Without action, Islington’s gap between the haves and have-nots will increase.
Community Wealth Building is a way of tackling economic inequality and creating an economy that works for everyone. It is about maximising the role of the council as an economic agent (as well as other key local organisations), taking advantage of our collective employment and purchasing power, as well as all of the local physical assets. Building economic resilience and shared prosperity through Community Wealth Building is key to the council’s objectives to tackle inequality and improve life chances.
We are determined to ensure that by 2030, there is a sustainable, inclusive, and local economy in Islington, where wealth is fairly shared and residents and businesses feel they have a stake in their community.
For us, this means a place where people are supported into, and progress in well-paid, secure jobs. A place where local businesses prosper, and where our purchasing spend and social and economic infrastructure across the borough support and enable us to deliver these ambitions.