The ‘Preston Model’ is an approach to community wealth building, drawing on innovative approaches to local government procurement and influencing the spending behaviour of local ‘anchor’ institutions. The local and community wealth building approach looks to have an impact on ‘influencable spend’, striving to ensure money is recirculated within the local economy, and supporting businesses with social and environmental goals. The experience of Preston provides a model for how local authorities can approach rebuilding the local and community wealth of a region, providing an alternative to failed ‘trickle-down’ economics.
