NCVO calls for social investment bank
Charities
17th April 2009
The National Council for Voluntary Organisations (NCVO) has called on the government to establish a social investment bank for UK charities.
Under such a scheme, the voluntary sector would be offered loan finance and be able to make use of unclaimed assets for dormant bank accounts.
Ben Kernigham, deputy chief executive of the umbrella organisation, said the bank would give social enterprises the capital they need to develop their services.
He commented: "The chancellor could throw a lifeline to the sector by showing commitment to developing the social investment bank."
Earlier this year, Cabinet Office minister Liam Byrne rejected a Conservative proposals to set up such a bank.
The NCVO has also said a new opt-out system for Gift Aid and increased funds to help organisations tackle climate change should be introduced.
Founded in 1919, the NCVO represents the interests of the voluntary and community sector in the UK.
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