The UK chancellor Jeremy Hunt outlined a budget last week that sought to bring stability to the country’s finances. Yet the looming recession is plummeting social enterprises and the communities they serve into crisis.
Latest quarterly survey from Social Enterprise UK finds 3% of social enterprises say they’re at risk of closing in the next few weeks as costs rise and turnover drops amidst calls for more help from the government.
Mini-budget focused on tax cuts signals a sharp turn right from policies championed by the Johnson government, with social economy experts criticising today's package as “too small for Britain” and “a gamble”.
Lord Kamall has been named as the new minister for civil society in the UK by the Department for Digital, Culture, Media and Sport. He has previously worked on microfinance for entrepreneurs from poor communities.
The prime minister’s plan to protect against surging energy prices only provides support for businesses for the next six months, and lack of clarity over immediate measures leaves social enterprises at risk of closure, fear membership bodies.