Preston spearheading movement to be leading cooperative city in Britain
18 Aug 17
Preston City Council has worked towards the city becoming the heart of a major project to spearhead a cooperative movement across the UK, building an integrated ecosystem of co-operative enterprises around the city’s institutions.
The Labour Party and Preston Council began work on the Preston Model back in 2013, as the Labour-run council planned to rebuild the economy of a city which was once ranked in the bottom 20 per cent of the deprivation index, and facing their government grant to be cut from £30m to £18m.
The Preston model has helped the city achieve the second biggest shift in its multiple deprivation index ranking between 2010 and 2015. It also beat Manchester and Liverpool to win recognition in the 2016 Good Growth for Cities index as the best city in north-west England in which to live and work.
Councillor Matthew Brown, Preston’s cabinet Member for Social Justice and Inclusion Policy, said: “We’re trying to promote public ownership at a local level. So there’s the idea of establishing a community bank. There’s the idea of promoting credit unions and community development funds.”
Blackpool, Fylde & Wyre Credit Union’s common bond extends to Preston and has brought a cooperative approach to the community, developing the economic ecosystem rooted in a co-operative society.
To read more about the Preston Model click here.