Chris Ruane
Main Page: Chris Ruane (Labour - Vale of Clwyd)Department Debates - View all Chris Ruane's debates with the Cabinet Office
(13 years, 8 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Chris Ruane (Vale of Clwyd) (Lab)
Will the big society bank give grants as well as loans, and will the loans be set at commercial or preferential rates?
Mr Maude
The big society bank will not make grants. It is a bank, so it will make loans and provide investment capital for this important and growing sector. One of the problems in the social investment market has been that Futurebuilders was able to give both grants and loans, which was very distorting for the large and growing number of intermediaries in that market. The bank should be an investment organisation, not a giver of grants.