8. Feb, 2018


"But the city council no longer plays that game. Instead it has adopted a guerrilla localism. It keeps its money as close to home as possible so that, amid historically drastic cuts, the amount spent locally has gone up. Where other authorities privatise, Preston grows its own businesses. It even creates worker-owned co-operatives.

Now Labour leader Jeremy Corbyn praises Preston for its “inspiring innovation”. Westminster thinktankers talk about “making a pilgrimage” – and they are only half-joking. Even actor Michael Sheen has dropped by."

In a new series looking at how to make the economy work for everyone, Guardian columnist Aditya Chakrabortty finds out how Preston turned its fortunes around by spending locally