Latest Laois News: Launch of Laois Community Wealth Building Proposal

Latest Laois News: Launch of Laois Community Wealth Building Proposal

Deputy Stanley launches Community Wealth Building Proposal for Laois and Offaly

Laois-Offaly TD Brian Stanley has launched Sinn Féin’s ambitious proposals for Community Wealth Building (CWB) – a powerful model to assist rural economic development.

Brian Stanley said “We have examined this and I firmly believe that it can be utilised here in the Midlands to boost employment.

CWB seeks to use existing local and regional resources along with the spend by national and local Government public bodies to strengthen the local economy and regions.

CWB has proved to be successful in Preston (England), North Ayrshire (Scotland) & Cleveland (USA)

The model of CWB has proved to be very successful in locations such as Preston in England, North Ayrshire in Scotland and Cleveland in the United States. These proposals are practical and workable.’’

photo of a stack of coins on banknotes
A new model of wealth creation

“The reality is that the current economic model in Ireland isn’t meeting the needs of many workers, families and communities across the Midlands.

CSO data shows the region to be one of the most deprived in Ireland with 1 in 5 unable to afford basic living requirements. 20% of people live in deprivation and disposable income per person is 15% lower in the Midlands compared to the national average.’’

“We need to be bold in setting out a new approach to the economy where we have balanced economic development and wealth is retained in our towns and counties rather than being extracted.

Three key pillars to this CWB proposal

There are three key pillars to our CWB proposal:

We need to retain as much wealth as we can through local supply chains and targeted public procurement contracts for local businesses. Preston has shown that breaking down procurement contracts for SME’s in your locality can create a circular economy where wealth can be retained, and life can be brought back to local towns.

photo of coins in a jar and coins stacked on top of each other
A new model of wealth creation in Laois

Key local bodies, like Bord na Móna and Laois and Offaly County Councils, are central to the model, they have the resources and facilities to create local employment and set a standard for high quality, sustainable jobs.’’

“Over 20,000 commuters leave Laois and Offaly for work each day, 8,692 from Offaly and 11,477 from Laois. By working with local business, providing  procurement contracts, and encouraging key institutions to do likewise, we can create more quality jobs locally and improve people’s quality of life.

Our proposal is about developing local assets and using the public bodies in such a way that wealth is added to our communities, not extracted.

We believe that CWB has the potential to maximise the potential of Laois and Offaly.”