Big Society Capital: will it make a difference?
The government has unveiled a new financial institution, called ‘Big Society Capital’, to finance charities and community groups.
It will initially be funded by £400m from forgotten bank accounts and a further £200m from high street banks.
The Prime Minister said: "This is about supplying capital to help society expand. Just as finance from the City has been essential to help businesses grow and take on the world, so finance from the City is going to be essential to helping tackle our deepest social problems."
The bank will be run independently of the government and chaired by Sir Ronald Cohen. Cohen said: “What we’ve done for business entrepreneurs we must now do for social entrepreneurs,”
This is a major step towards the Conservative vision of a “big society”, but is it simply a cover for deep cuts in public services?
- Incorporation and goodwill 49 1
- Increasing the personal allowance: A top priority? 1,183 47
- What happens to the director's loan if the company was to go into liquidation? 53 1
- Telephone call from "Xero" 432 5
- Error on SA Tax Return 122 3
- dividend 169 10
- Purchase of shares in a Limited Company 128 5
- Repairs or Improvement? 255 5
- Credit Card Payment - What are we required to do? 182 3
- Irish Taxation 145 4
- Now the phishers have baited their hooks with SAGE 319 2
- Self assessment tax arrears 517 6
- Drector renting room to company 104 1
- Off site storage 161 5
- Is Accountancy Becoming like an Insurance Policy 601 6
- Anyone know about Cloud-Based Practice Management Software? 255 7
- Industrial & Provident Societies 350 1
- Advertising with Hibu nee Yell (Yellow Pages) 243 3
- Auto-enrolment - Fees 335 4
- Self assesment losses 324 8
- Xtuple 568
- Qtac payroll for bureau 388
- Confused - Professional Association a Mutual trader, or not? 343
- Domain name sale and limited company 234
- Italian friend wants to set up a UK company to reduce taxes 212
- Director legal fees in loose connection to the company 210
- Investment 207
- Multiple bodies and practicing certificates 183
- Tax on damages received 182
- Temporary non residence and CGT on non-UK asset 152