Community Wealth Building (Scotland) Bill: Financial Memorandum

Overview

About the Bill

Community wealth building is an approach to economic development. It focuses on ensuring that economic wealth is generated, circulated and retained in local communities.

The Bill, as introduced by the Scottish Government, would instruct Ministers to publish a community wealth building statement. This would set out the measures they intend to take in relation to community wealth building.

Ministers must also publish guidance on community wealth building.

Under the proposals in the Bill, each local authority would need to work with certain public bodies (such as health boards) in their areas to publish a community wealth building action plan for that area.

Local authorities and public bodies must implement any measures set out in those action plans.

Current Status of the Bill 

This Bill was introduced in the Scottish Parliament by the Deputy First Minister and Cabinet Secretary for Economy and Gaelic on 20 March 2025.

Read and find out more about the Bill: Community Wealth Building (Scotland) Bill

Stage 1 

The Economy and Fair Work Committee has been designated as the lead Committee for the Bill. A separate call for views on the Bill’s policy provisions has been issued by the lead Committee and has been published on this consultation platform.

Financial Memorandum 

As with all Bills, the Finance and Public Administration Committee invites written evidence on the estimated financial implications of the Bill as set out in its accompanying Financial Memorandum (FM). 

Read the FM published alongside this Bill.

Making a Submission

Before making a submission, please read our Privacy Notice about submitting your views to a Committee. This tells you about how we process personal data. 

Please note that in most cases your submission will be published on the Scottish Parliament's website and may be quoted in the Committee's report or in Committee meetings (which are public and broadcast). 

Please use the Questionnaire provided for your submission:

1. Did you take part in any consultation exercise preceding the Bill and, if so, did you comment on the financial assumptions made?  

2. If applicable, do you believe your comments on the financial assumptions have been accurately reflected in the FM?  

3. Did you have sufficient time to contribute to the consultation exercise?

4. If the Bill has any financial implications for you or your organisation, do you believe that they have been accurately reflected in the FM? If not, please provide details. 

5. Do you consider that the estimated costs and savings set out in the FM are reasonable and accurate?  

6. If applicable, are you content that your organisation can meet any financial costs that it might incur as a result of the Bill? If not, how do you think these costs should be met?  

7. Does the FM accurately reflect the margins of uncertainty associated with the Bill’s estimated costs and with the timescales over which they would be expected to arise? 

The deadline to submit your views is: Friday 23 May 2025.

We welcome written views in English, Gaelic, Scots or any other language. Due to the time required to process and analyse evidence, late submissions will only be accepted with the agreement of the Committee Clerk.