With a new government comes the opportunity to put social purpose business needs higher up the agenda with 100 days of ‘must-dos’ focusing on some urgent needs for reform:
- Ensure the Law Commission presses ahead with its consultation on co-op law - the Law Commission review of the legislation that governs co-ops and community benefit societies was paused because of the election. This vital work must be allowed to continue, and the new Government must commit to implementing the outcome.
- Create a new ministerial post for inclusive and democratic business – this ministerial appointment should be in the Department for Business, Employment and Skills, and join up responsibility for co-ops and mutuals (which sits in the Treasury), employee ownership, and social enterprise (which sits in the Cabinet Office) to raise the profile of different business models.
- Review and respond to the 2023 employee ownership consultation –the previous government has done nothing with this consultation. Employee ownership is a key part of generating a more inclusive, widely owned economy and Labour should press ahead with new measures to support its growth.
- Draw up a new package of support for local community-owned energy co-operatives – as part of a wider package of measures to encourage the growth of the renewables sector, support local communities, and respond to the climate emergency.
- Commence a review of ownership in public utilities – in addition to reviewing ownership of public utilities, the new Government should start a consultation with the mutuals sector on developing new models of ownership for water companies as a first step.