NEWS FROM THE CITY SEMINAR ON SOCIAL INVESTMENT
There is cross-party support for social investment and the development of a Social Investment Wholesale Bank, says Conservative shadow cabinet minister Francis Maude.
Speaking at today's City Seminar on Social Investment at Mansion House, Maude criticised the government's 'navel gazing' on the development of the bank. The government is currently undertaking a consultation on the design and functions of a Social Investment Wholesale Bank.
Maude pointed out that his party would like to see the bank created much more quickly.
He also committed the Tories to a 'well-capitalised independent institution' saying they did not want 'another quango'.
Third sector minister Angela Smith also gave a speech aimed at demonstrating the government's support for social investment.
She encouraged the financiers in the room to 'spread he word on', and use their 'expertise' to respond to, the government's consultation on a Social Investment Wholesale Bank.
She further launched three new publications that provide guidance on Social Return on Investment. She said standardised measurement was crucial to the development of the social investment market. See http://www.cabinetoffice.gov.uk/third_sector/news/news_stories/090915_sroiguides.aspx
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