Mentions:
1: Lord Kennedy of Southwark (Lab - Life peer) Since then, these important mutuals have played their part in enabling people to own their home. - Speech Link
2: Lord Holmes of Richmond (Con - Life peer) What is their current work on mutuals across the piece? - Speech Link
3: Baroness Vere of Norbiton (Con - Life peer) sector and confirm that the Government are absolutely behind the mutuals sector. - Speech Link
Mentions:
1: Gareth Davies (Con - Grantham and Stamford) sector; secondly, the importance of mutuals to our overall financial services sector; and, finally, - Speech Link
Mentions:
1: Lord Naseby (CON - Life peer) I recognise that another element sitting on the statute book that complements the Bill is the Mutuals - Speech Link
2: Lord Fox (LDEM - Life peer) It is a passive Bill, and it is no reflection on him but, sadly, it is too late: too many mutuals have - Speech Link
3: Lord Livermore (LAB - Life peer) The Bill will help UK mutuals preserve their legacy assets for the purpose for which they were intended - Speech Link
4: Baroness Penn (CON - Life peer) That is why creating the right legal apparatus in which mutuals can thrive and grow is so important. - Speech Link
Mentions:
1: Jo Gideon (Con - Stoke-on-Trent Central) Other sectors, whether that be mutuals or friendly societies, have had similar updates to bring their - Speech Link
2: Natalie Elphicke (Con - Dover) I have a passion for the importance of mutuals in general and building societies in particular. - Speech Link
3: Nigel Huddleston (Con - Mid Worcestershire) As always, he spoke passionately about the importance of mutuals in rural areas. My hon. - Speech Link
Dec. 06 2010
Source Page: Electronic communications in the mutuals sector: a consultation document. 52 p.Found: Electronic communications in the mutuals sector: a consultation document. 52 p.
Oct. 13 2009
Source Page: Providing powers for best value authorities to participate in mutual insurance arrangements. Impact assessment. 42 p.Found: The study raised the issue on permitting local aut horities to enter into discretionary mutuals and
Found: Co-operatives, Mutuals and Friendly Societies Act 2023 (c.23)
Apr. 06 2010
Source Page: Building Society Capital and related issues: a discussion paper. 36 p.Found: Building Societies as mutuals 1.2 Building societies are mutual organisations Πautonomous associations
Asked by: Jim McMahon (Labour (Co-op) - Oldham West and Royton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the contribution of the cooperative sector to the UK economy.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The Government is committed to having a thriving co-operative sector and creating a modern and supportive business environment in the UK. The Government acknowledges the vital contribution co-operatives make to the economy, serving local communities up and down the UK. The latest Co-operative and Mutual Economy Report 2023, conducted by the trade body Co-operatives UK, found that co-operatives generated a combined, annual turnover of £40.9 billion, a 3.7% increase from 2022 levels.
The Government has taken significant steps to support the co-operative sector in recent years. For example, the Co-operative and Community Benefit Societies Act 2014 helped cut through the legal complexity involved in running a co-operative, improving their competitiveness. Additionally, at Budget 2021, the Government announced the £150m Community Ownership Fund. This allows community groups to bid for up to £2 million matched-funding to help them buy or take over local community assets at risk of being lost and run them as community-owned businesses, supporting co-operative entrepreneurship. To date, 195 projects across the UK have benefitted from the fund.
Earlier this year, the Government-supported Co-operatives, Mutuals, and Friendly Societies Act 2023 came into force, which grants HM Treasury the power to bring forward regulations to give those mutuals further flexibility in determining for themselves the best strategies for their business regarding their surplus capital.
Furthermore, the Government also aims to continue to develop a modern and supportive business environment to set co-operatives and mutuals up for success. The Government has commissioned the Law Commission to conduct reviews of the Co-operative and Community Benefit Societies Act 2014 and the Friendly Societies Act 1992. These reviews will investigate necessary changes to legislation that will help support co-operatives and friendly societies in their future growth and success.
Found: Co-operatives, Mutuals and Friendly Societies Bill: Delegated Powers Memorandum