UK: budget impact on UK social enterprise sector

UK Chancellor Gordon Brown has announced in his 11th budget report that the government will provide £80 million (112m euro) in core funding to grass roots community organisations. The report also highlights the issue of low level equity investment in social enterprises, and states that the Office of the Third Sector will consider if further government intervention in the supply of equity is required. Jonathan Bland, chief executive of the UK Social Enterprise Coalition, says: “We will be working with government on taking this forward and hope that progress on enhancing the community investment tax relief model is made as soon as possible?Money is the motor of all business and a lack of suitable investment is currently stopping social enterprises from realising their full potential as dynamic and sustainable businesses.” www.hm-treasury.gov.uk