Gordon Brown, David Cameron and Nick Clegg have today been challenged to lay down their plans for growing the mutual sector.
In recent weeks there has been a flurry of speeches and statements by the parties about their support for co-operative and mutual initiatives.
Today the mutual sector has responded with its plans for putting people at the heart of business and society in the first ever Mutuals Manifesto.
The economic crisis has shown the fragility of investor owned business, and the importance of the diversity of corporate forms to the British economy. Trust in institutions is at an all time low.
At the same time, Government is increasingly interested in how public services can be more accountable to their users, whilst harnessing a stronger culture of employee engagement.
Co-operative Financial Services have acted to support the launch of the Commission on Ownership to examine the role that ownership plays in our society.
The UK economy – as with most economies in the developed world – is largely driven by businesses that are owned by investors and for many decades, the profit motive has been its driving-force. While this ownership model provides a powerful driver, it also creates a problem. Being effective at delivering private benefit is all very well, but an economy based on the quest for the private benefit of some does not seek the common good of all.
Media reports have shown a recent surge in interest providing public services through mutuals. This article outlines the opportunity for policy makers.
Debates and Questions - News - All Party Parliamentary Groups
Follow the links for media articles of interest about the mutual sector
On 2nd March 2009, Parliament passed the first enabling Order to permit the creation of ’super-mutuals’ under Sir John Butterfill’s Private Members Bill - The Building Societies (Funding) Mutual Societies (Transfers) Act 2007.
In the current economic climate, mutuals are more important than ever. They are a dependable rock within the financial services industry – more trusted than shareholder owned businesses, whose reputation among the public has collapsed.