[cma-l] Last chance for views on the next generation investment bank

[CMA-L]

In July the Government launched a consultation into the design and
functions of a Social Investment Wholesale Bank. The consultation
period will close next week on 07 October 2009.

This consultation could result in a new breed of financial institution
– a bank with the primary purpose of investing in society, the
environment and the economy. This unique bank would be a world first
as it would invest against a triple bottom line of economic growth,
social cohesion and sustainable development.

The consultation presented a range of possible functions for the bank,
such as attracting money from other investors, and helping raise funds
for existing social investors. It could be designed to be independent
of government, regularly reporting its social, financial and
environmental impact, and working with other investors wherever
possible.

The consultation is part of Building Britain’s Future, the
Government’s plan to work with the British people to respond to the
economic downturn and together build a stronger, fairer and more
prosperous country. Angela Smith, Minister for the Third Sector,
Cabinet Office, and Stephen Timms Financial Secretary to the Treasury,
formally launched the consultation on 15 July 2009.

Angela Smith, Minister for the Third Sector, said:

“There is a huge public appetite for social responsibility, especially
in areas like finance. This consultation is an exciting step on the
road towards a Social Investment Wholesale Bank. I look forward to
hearing evidence and views on how this bank would work with and for
our third sector to ensure that charities, voluntary groups, social
enterprises, co-operatives and mutuals grow stronger and are in a
better financial position to lead the way in building Britain’s
future."

To find out more about the Social Investment Wholesale Bank and to
take part in the consultation, visit the Third Sector Consultations
website.:

http://www.cabinetoffice.gov.uk/third_sector/consultations/current_consultations/social_investment_wholesale_bank.aspx

\\

Community Media Association
-- 
http://www.commedia.org.uk/
http://twitter.com/community_media