Community Wealth Building (Scotland) Act 2026

Prospective

1 Community wealth building statement S

(1) The Scottish Ministers must prepare a community wealth building statement.

(2) The community wealth building statement must set out the measures that the Scottish Ministers are taking or intend to take to—

(a) reduce economic and wealth inequality between individuals and communities in and across Scotland, and

(b) support sustainable and inclusive economic growth in line with the United Nations sustainable development goals,

by facilitating and supporting the generation, circulation and retention of wealth in local and regional economies.

(3) The measures must include—

(a) using public procurement to facilitate or support such generation, circulation and retention,

(b) promoting—

(i) employment opportunity,

(ii) workforce development,

(iii) equality in the workplace,

(c) diversifying ownership of land, energy or other assets by facilitating or supporting community ownership,

(d) bringing vacant and derelict land back into use in a way that provides financial, social or environmental benefit to the community,

(e) encouraging local business start-ups or entrepreneurship,

(f) promoting or supporting the development of—

(i) employee-owned businesses,

(ii) co-operatives, including co-operative financial institutions,

(iii) social enterprises,

(iv) supported businesses, as defined by section 11(3) of the Procurement Reform (Scotland) Act 2014,

(g) promoting access to investment opportunities that provide a benefit to the community and to local businesses,

(h) supporting local climate resilience and mitigation of the effects of climate change,

(i) such other measures as the Scottish Ministers consider appropriate.

(4) The community wealth building statement must set out the steps the Scottish Ministers will take to encourage and support—

(a) the Scottish National Investment Bank p.l.c.,

(b) Scottish Enterprise,

(c) South of Scotland Enterprise,

(d) Highlands and Islands Enterprise,

to increase the number, and promote the development, of employee-owned businesses.

(5) In preparing the community wealth building statement, the Scottish Ministers must—

(a) review the extent to which the goals of the statement, as set out in subsection (2), are facilitated by existing policies and practices within the public sector, whether set out in an enactment or otherwise, in relation to—

(i) procurement,

(ii) community empowerment,

(b) consider whether the measures in the community wealth building statement should include the implementation of changes to the policies and practices mentioned in paragraph (a), whether to enactments or otherwise, arising as a result of that review,

(c) have regard to the just transition principles set out in section 35C of the Climate Change (Scotland) Act 2009,

(d) publish a draft statement,

(e) consult with—

(i) local authorities,

(ii) such persons as they consider representative of the interests of—

(A) the community,

(B) businesses,

(C) social enterprises, and

(iii) such other persons as they consider appropriate.

(6) The Scottish Ministers may by regulations modify the list of measures in subsection (3) so as to—

(a) add a measure,

(b) remove a measure listed in it,

(c) amend a measure listed in it.

(7) Regulations under subsection (6) are subject to the affirmative procedure.

Commencement Information

I1 S. 1 not in force at Royal Assent, see s. 14(2)