By Colin Lever
AS the global order changes, Jersey must develop its internal resilience to ensure sustainability. At the 2026 World Economic Forum, Mark Carney, the Prime Minister of Canada, spoke of; “Developing a greater strategic autonomy, in energy, food, finance and supply chains.” He went on to say, “When the rules no longer protect you, you must protect yourself.” And he also expressed a need to; “increase options in the ability to withstand pressure….classic risk management”. While he was talking on a global stage, much of what he said applies to Jersey.
From the United States to Europe, and from Australia to Canada, Community Wealth Building is gaining traction. Scotland has adopted CWB as a national priority, enshrining it in legislation.
CWB leverages anchor institutions, like local government and large businesses to spend more money locally. Its goals are to increase local economic resilience and self-sufficiency; to create decent jobs, reduce economic uncertainty and ensure that wealth generated locally, stays local, benefitting residents directly.
“The more times a dollar circulates within a defined geographic area and the faster it circulates without leaving that area, the more income, wealth, and jobs it creates.” (Michael Shuman. The Small-Mart Revolution).
So how does Jersey fare with respect to community wealth building? In short, it has some of the ingredients but not necessarily in the right order! As an anchor institution, the government is generous with its funding but then it does not ensure compliance. The finance industry, Jersey’s other main anchor institution, spends lavishly on local fare but is less generous when it comes to investment in local business. Jersey has the resources, what it lacks is the resource. If it were to embrace CWB, it would not need to clear the decks and experiment with different ideologies, that may or may not work. All it would require is a shift in emphasis of what is already in place.
For example, the Island does not carry out a leakage analysis, so it has little idea of just how much money is being lost from its borders. Using Statistics Jersey’s gross operating surplus along with imports of goods and services, the potential leakage amounts to over £5 billion. If the island were to cut this by as little as 1%, it would mean a £50 million saving! Knowing where the leaks are allows strategies to be applied to plug them. The procurement system is unwieldy, open to bias and is generally ignored by some of its arms-length bodies. The 2025 public accounts committee reported that £215 million was handed to off-island businesses via procurement. A 10% cut in this expenditure would give a saving of £21.5 million to be returned to the Island’s economy. Growing a wider range of produce, on-island, would almost double the capital made from potato exports. The implementation of a progressive procurement system, across all government departments would cauterise many of the leaks and would establish a simpler, circular economy.
Manchester City Council adopted CWB. It made efficiency savings of £65 million by streamlining its procurement system. Spending on local SMEs increased to 59.4% (target was 33%). It has created 1,500 new jobs and apprenticeships, consolidated its procurement process into a single department which gives social value a 20% share. The proportion of procurement spending that stayed within the Manchester area increased from 51.5% (2008/9) to 71.7% (2017). (source CLES).
Every time Jersey looks to innovate and/or engage in a development project, the headline figure invariably includes a seven-figure sum. It is usually the case that the initial outlay increases, incrementally as construction gets underway.
A hospital costing more than £800 million; a refurbishment of Fort Regent, estimated at around £45 million. Broad Street development, £120 million; Refurbishment of the Jersey Opera House, £12.7 million. Are they all Community Wealth Building? Only time will tell.
Community Wealth Building need not be so eye-wateringly expensive. It does not require jaw-dropping amounts to get the ball rolling. To get many business projects off the ground would require minimal expense. Each one a likely economic multiplier. There is an adage that “if you pay peanuts, you get monkeys”. However, the antithesis to this is that, at grass roots level is where you find the innovators. These entrepreneurs cut their teeth as start-ups, that, in turn, provide opportunities for economic growth. They are the wealth builders of the future. Small to medium enterprises (SMEs) are the engine of any economy, employing local people, who live locally, work locally, spend locally, and pay taxes on the Island. Beware of vested interests, complacency and intransigence, obstacles that block the path of progress.
Below is a list of low budget “initiatives” that would kick-start Community Wealth Building on the Island, collectively costing less than £1 million. Smaller chains where any breaks are unlikely to be catastrophic to the local economy.
- Agriculture and Fishing – regular market in St Helier.
- Hospitality & Tourism – more events.
- Art and culture – more events.
- Finance – establish a credit union.
- Retail – artisan pop-ups/ start-ups.
- Health – expand preventative programme.
- Education – establish a vocational based J-Bacc.
- Energy – Infra-red drone check across the Island and then insulate leaks f.o.c.
- Digital/tech – establish pre- and post-16 curriculum.
- Recycling – establish a permanent repair hub/bring all parishes into line.
For each, make a list of which other areas of business will prosper. For example, having a regular food market in town would likely.
- Provide more customers for existing shops and cafés (retail).
- Reduce cost of living with respect to fresh produce (public).
- Support healthy eating (health).
- Become an economic multiplier (finance).
- Reduce packaging and other waste (Recycling).
- Provide a focus for tourists (hospitality and tourism).
- Provide a venue for music and the arts (arts and culture).
CWB not only provides economic sustainability and resilience, but it is also an economic enabler, creating an environment for local businesses to grow by keeping billions of pounds circulating within the Island. This, in turn, encourages grassroots, economic growth. But then, Community Wealth Building is about much more than economics. It also encourages environment issues, equality and social mobility.
Colin Lever is a retired teacher and education specialist, SEND consultant, and commentator on educational and community issues. He also contributes musically to Repair Cafés and charity events and is currently writing and producing a comedy sitcom podcast.
