Community Wealth Building
Councils are exploring strategies for community wealth building to strengthen local economies and address economic inactivity.
Redbridge Council is exploring strategies for community wealth building to enhance economic growth, with its Regeneration and Economic Development Committee discussing a work plan in July 2026. Director of Regeneration and Growth, Tom Dewey, noted the borough faces a 22.1% economic inactivity rate, which the council aims to address through an economic growth strategy.
Islington Council reported "notable successes" under its Community Wealth Building mission in its Q3 2025-26 corporate performance update in April 2026, according to Councillor Nick Wayne. Separately, Newham Council approved a Social Value Procurement Policy in March 2026, establishing a framework for procurement activities over £150,000 to strengthen social value expectations.
Community wealth building is an economic development approach focused on strengthening local economies by ensuring wealth generated within a community stays local, aiming to create more broadly shared prosperity. This involves strategies like prioritising local businesses and residents.
Key facts
- Redbridge Council's Regeneration and Economic Development Committee discussed exploring community wealth building strategies in July 2026. Source
- Redbridge faces an economic inactivity rate of 22.1%. Source 1 Source 2 Source 3
- Islington Council reported "notable successes" under its Community Wealth Building mission in April 2026. Source
- Newham Council approved its Social Value Procurement Policy in March 2026. Source
- Newham's Social Value Procurement Policy applies to contracts over £150,000. Source
About this summary
This summary was written automatically from our published stories and the council meeting records they draw on. It describes what councils have discussed and decided; it does not take a view on any decision. Each key fact links to the story it comes from. Updated 30 September 2026. Spotted a mistake? Email community@opencouncil.network.