Author Archives: Tim Groves

The Independent View: What is Big Society Capital – big, new or just Big Society nonsense?

By Tim Groves | Wed 3rd August 2011 - 4:23 pm

In its first transaction, the £600m fund has invested £1m in Private Equity Foundation, an organisation helping disadvantaged teenagers find jobs when they leave school; £400m of the fund will be unclaimed assets left dormant in bank accounts for more than 15 years, with the rest coming from HSBC, Lloyds Banking Group, Barclays and Royal Bank of Scotland.

– The Independent, 29/07/2011.

The Indie report then goes on to tell about the first “social impact bond” project, which is an “investment” in measures to reduce re-offending in Peterborough.

So The much vaunted “Big Society Bank” – sorry – …

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