UK: government announces review of co-op legislation

Ed Balls MP, Economic Secretary to the Treasury, announced a major review of co-operative legislation by the UK government at a European conference in Manchester. In the keynote speech at the three-day event Co-operatives Europe conference on 9 November he announced that the government is set to overhaul the legislation that affects co-operative and mutual organisations. Mr Balls explained that the time was right to review the existing legislation and to consider the opportunities for reform. Dame Pauline Green, Chief Executive of Co-operatives UK, welcomed the announcement. ?This is terrific news for the co-operative sector and we look forward to working with the government to ensure that the appropriate legal framework is in place which will allow the creativity and dynamism of the £27.5 billion sector to continue to flourish.? Ed Balls went on to explain the vital role that the government believes co-operatives and mutuals have to play in this country and the important contribution they make to our communities. The conference, ?Co-operatives: The Alternative Business Model for Good Governance and Sustainable Development? was organised by Co-operatives Europe, the apex body for European co-operatives, in partnership with Co-operatives UK. Over 400 delegates from across the continent met to consider the important role that co-operatives play in Europe, and how they are leading the way when it comes to good governance, community development and sustainable business practices. ?Not many people know that there are 267,000 co-operative businesses in Europe, with 5.4 million employees and 163 million citizens as members,? adds Dame Pauline Green. ?The co-operative sector in Europe is massive, and this conference provides us with a terrific opportunity to showcase our achievements and set out a path for future European growth.? See www.cooperatives-uk.coop