It has been a mixed bag for Labour’s first 100 days in office, and the forthcoming Budget may give a clearer road map.
However, for co-ops, social enterprises and others in the ‘for purpose’ space, there have been some positive things so far:
- The immediate movement on renewable energy was welcome, as is the planned introduction of Great British Energy and the opportunities this will create for locally-owned generation projects.
- The Law Commission review on co-operative law has moved ahead after a brief pause, launching its consultation paper at the end of September.
- Labour have introduced the New Deal for Working People, which has been broadly welcomed by the mission-led sector.
However, there are some actions outstanding in the Government’s in-tray which the sector is keenly awaiting:
- There has still been no response to the consultation on employee ownership last year. Employee owned business, and particularly business owners thinking about conversion, await the outcome with interest.
- There has been no announcement about the Community Ownership Fund going forward, leaving great projects in limbo.
- It is not yet clear how the new Government intends to double the size of the co-ops and mutuals sector. Great idea, but how will support be implemented?
Perhaps the biggest concern is the impact of the well-trailed ‘black hole’ in the nation’s finances – when we know more about how this will impact on the Government’s programme, this will make the direction of travel much clearer.