The Big Society Bank is a game-changing opportunity to develop a sustainable social capital marketplace which changes the way in which the state engages with civil society. It opens the door to new ways for money to address social problems. The Big Society Bank is the intervention that could ultimately catalyse the movement of tens of billions of pounds of investment capital into the social sector.
Congratulations to Nick Hurd MP, the Minister for Civil Society, Nick O’Donohoe and Sir Ronald Cohen and all those working in the Cabinet Office on the launch of ‘Growing the Social Investment Market: A vision and strategy’. Congratulations too to Joe Ludlow, Jonathan Jenkins and NESTA for the excellent work in the Big Society Finance Fund pilot.
This is a milestone in the development of the Social Investment market in the UK, and as Ronald Cohen says could prove to be an exemplar for governments around the world. We wish it, and all those involved in it, every success as it starts this historic journey.