because he has fundamentally misunderstood what his 'Big Society Capital' group is. Via Liberal Conspiracy:
The Prime Minister went to give evidence to a Committee of MPs yesterday about the Big Society. In response to questions, he claimed that:
“we are not sitting back and just hoping that the Big Society springs up. We have established what was called the Big Society Bank, which is now called Big Society Capital. It will get £200 million from the banks under the Merlin agreement. That will be making grants to small voluntary bodies, so that they can scale up; they can be bigger and they can do more things.”
Sounds good, right? It is just a shame that, back in May, the government agreed that:
“The BSB (Big Society Bank) will not be a grant-making organisation. Funds deployed will therefore seek both financial and social returns.”
http://liberalconspiracy.org/2011/11/09/camerons-latest-big-society-blunder/And, just to confirm that the plan hasn't changed since May (because, let's face it, they have twisted and turned on the Big Society
like a hagfish),
the website says nothing about grants, and is all about 'investment',
as is the Cabinet Office description, and it describes itself:
The purpose of the BSC group is to support the growth of a market for social investment in the UK - investments made for social as well as financial returns; to be able to attract greater levels of capital from a more diverse range of sources to address social issues; and to be able to allocate capital more effectively to achieve greater social impact. By supporting the growth of this market, BSC aims to improve very significantly the social sector’s ability to access capital and deliver positive benefits to society.
http://www.bigsocietycapital.com/pdfs/BSC%20Launch%20Press%20Release.pdf
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore
