Build a local saver and investor community

For more than 160 years, National Savings & Investments (NS&I) has quietly underpinned the nation’s finances. Millions of citizens have lent directly to central government, providing a reliable, patient and competitively priced source of borrowing alongside the gilt market.

Less well known is that local government once did something similar. Councils raised finance directly from local businesses and residents to fund water systems, transport networks, parks and public health infrastructure. This approach ended in the 1980s—not because it stopped working, but because in a time of paper, it was time-consuming and costly to administer.

Municipal investments revitalise this approach for the digital age. Councils can once again invite citizens to invest in the places they live and care about giving local government the benefit of low-cost, long-term capital and deeper civic engagement.

Our research demonstrated that these investments can be a cost effective way for councils to engage with the communities they serve.

Subsequent research, funded by the Place-based Climate Action Network, now provides real confidence that they can also deliver higher social value, by enhancing place-based pride, and through better community understanding and engagement with council activities.