Good Local Economics
Britain is growing again but will the shoots of growth lead to a reduction in poverty? Not likely, says Clare Cummings, unless poverty moves up the economic agenda.
Just as the national election looms closer, the British economy has begun to grow again and chancellor George Osborne can be seen claiming victory over his critics. It’s not yet clear whether the recent growth spurt is due to fiscal consolidation but it is undeniable that businesses are in a better mood. According to the Office of National Statistics, the economy grew by 1.7% in 2013 and the IMF has forecast the British economy to grow at 2.9% this year, predicting it to be the fastest growing economy in the G7.
We need to move beyond ‘projects’ and towards policies that help build and sustain community wealth, says John Duda of the Democracy Collaborative
At the Democracy Collaborative, we’re interested in finding ways to build community wealth at scale — that is, in finding ways to anchor capital, democratise ownership, and stabilise local economies to really make a difference in the lives of low-income communities that find themselves marginalised by the current paradigm of economic development.
