This week, David Cameron kicked off the first phase of his Big Society by announcing in Liverpool his plans to unveil a Big Society Bank for the UK by April 2011. The purpose of the bank is to enable big capital to be connected to social projects, charities and community projects. Money allocated to England from dormant bank accounts will go to this new bank with estimates on availability of funds when the bank opens ranging from 400million to 60million. However, some have commented that the bank is unlikely to have sufficient funds to create the empowered local communities that this Government is promoting. Nevertheless in an upbeat statement, Managing Director of Triodos Bank Charles Middleton commented “By forcing high street banks to free up long-dormant deposits and kick-start lending to the social enterprise sector, the future lifeblood of the UK economy, the Big Society can now start to be realized.”
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