March 14, 2026 — Edinburgh, Scotland The Scottish Parliament passed the Community Wealth Building (Scotland) Bill on February 10, 2026, after its introduction by the Scottish Government in March 2025. The legislation establishes a strategic framework to promote local economic development through community ownership, wealth retention, and involvement of anchor institutions like councils and public bodies.
Scotland’s new Community Wealth Building Bill aims to prioritize local people over distant investors in economic development.[1] The bill mandates ministers to publish a “community wealth building statement” guiding local authorities and public bodies toward partnership approaches that circulate wealth within communities rather than extracting it for external investors, according to official parliamentary details.
Key Provisions and Passage
Introduced in March 2025, the bill progressed through stages, including a Stage 1 debate covered by the Scottish Parliament Information Centre (SPICE). It was finalized in Stage 3 proceedings on February 10, 2026. The Scottish Government highlighted the passage in a press release titled “Investing in local economies”, emphasizing community investment via public bodies.
Scotland’s new Community Wealth Building Bill aims to prioritize local people over distant investors in economic development.[1] This framework marks a “world first” in legislation to reduce inequality through collective decision-making and broad-based ownership, as noted by the Democracy Collaborative.
Global Example and Stakeholder Views
Neil McInroy, in a Project Syndicate commentary from March 2026, described the bill as setting a global example. Scotland’s new Community Wealth Building Bill aims to prioritize local people over distant investors in economic development.[1] We All Scotland covered the passage as a shift “beyond growth.”
The bill aligns with Scotland’s economy mission, focusing on stakeholder views from the consultation process. Scotland’s new Community Wealth Building Bill aims to prioritize local people over distant investors in economic development.[1]
Recent Discussion
Project Syndicate promoted McInroy’s article on March 13, 2026, sparking social media interest. Scotland’s new Community Wealth Building Bill aims to prioritize local people over distant investors in economic development.[1] Official sites provide financial memoranda and video proceedings for further details.