There were no big bang announcements in Rachel Reeves's Budget this week, but policy still matters – and it can be as much a hindrance as an enabler, as the latest insights in the UK's social investment market from Better Society Capital shows.
New research from the UK’s social investment wholesaler shows a 12% year-on-year increase largely driven by a jump in investment in social and affordable housing, while the picture is more mixed in other segments of the market.
The Better Futures Fund is the result of months of consultations over a new social impact investing vehicle announced by the government last autumn, and aims to support 200,000 children over 10 years.
Growth-focused “modern industrial strategy” pledges to align economic value with social outcomes through impact investment and procurement with social enterprises – but falls short on some expectations from purpose-led businesses.
£440m of dormant assets is allocated in new government strategy, including £87.5m for social investment and a commitment to follow sector recommendations – but the amount remains ‘modest’ in the face of current challenges.
What does the optimism of 2012, expressed by Jonathan Greenblatt, Nick Hurd, Dame Caroline Mason and more in the first edition of our weekly newsletter, look like 13 years later? This week’s view from the Pioneers Post newsroom.
This week: Bill’s Gates to close in 20 years; Char Love joins House of Hackney to stand up for nature; OpenAI’s public benefit corporation restructure confirmed – and more.
This week: Syria’s first hackathon unites social innovators to support recovery; UK government backs social enterprise in public procurement rules shake-up; Alfanar’s MENA impact fund launch is “good news for impact investing”.
