Big Society bank launched

A £600 million fund to help finance David Cameron's Big Society agenda has launched. Big Society Capital uses a mixture of money from dormant bank accounts and the main High Street lenders to fund investment in charities and social enterprises.

Labour responds to Big Society Capital launch

Labour’s Shadow Minister for the Cabinet Office responds to the Government’s launch of Big Society Capital:

"Charities need all the support they can get. This announcement is welcome, but it is too little, far too late.

"The Government should not over claim at a time when over 70,000 jobs in the sector have been lost in the last year alone and too many charities are cutting back on the support they provide to individuals and communities as a result of the Tory-led Government's cuts that go too far, too fast."

– Jon Trickett MP

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PM hails Big Society fund launch

David Cameron said a new £600 million Big Society fund would be used to help tackle the country's "deepest social problems".

The Prime Minister claimed the money would help "smash away" the "patronising assumption" that small charities cannot do big things.

The initial capital for the fund will be an estimated £400 million in unclaimed cash from bank accounts dormant for more than 15 years and £200 million from Barclays, Lloyds, HSBC and RBS.

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