Senior solicitor Jennifer Scott, in our Charities & Education team, looks briefly at the new '‘social impact investment vehicle’ announced in the Budget.
The Autumn Budget announced last week by the Chancellor, Rachel Reeves, has referred to the government creating a ‘social impact investment vehicle’. The intention is to assemble socially motivated investors, the voluntary sector and the government to tackle complex social issues.
The development of a social impact investment vehicle will be led by the Chief Secretary to the Treasury working with the Department of Digital, Culture, Media & Sport to deliver the government's missions. The government has stated that its five missions include:
- securing the highest sustained growth in the G7;
- making Britain a clean energy superpower;
- building an NHS fit for the future;
- making Britain’s streets safe; and
- breaking down the barriers to opportunity at every stage.
It is easy to assume a link between the social impact investment vehicle and Labour’s missions, which would arguably involve tackling social issues to get ahead, particularly in respect of breaking down barriers to opportunity.
No further details of the social impact investment vehicle have been released yet with more information to be announced at Phase 2 of next year’s Spending Review.
For further information or legal advice, please contact law@blandy.co.uk or call 0118 951 6800.
This article is intended for the use of clients and other interested parties. The information contained in it is believed to be correct at the date of publication, but it is necessarily of a brief and general nature and should not be relied upon as a substitute for specific professional advice.
