Gary Streeter
Main Page: Gary Streeter (Conservative - South West Devon)Department Debates - View all Gary Streeter's debates with the Cabinet Office
(10 years, 7 months ago)
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Mr Gary Streeter (South West Devon) (Con)
Are not credit unions a great example of social finance, and is it good news that there are now 500 of them in this country, not least a new one in Plymstock in my constituency? More than 1 million Brits are now members of a credit union. Are the Government pleased about that?
Mr Hurd
Credit unions are an enormously important part of the landscape in communities around the country, and many do extraordinarily valuable work. We are looking at the degree to which we can support their capitalisation. They are fragmented and under-capitalised, and we are discussing with Big Society Capital, and others, what ideas are out there for using the power of social investment to strengthen the capitalisation of that important movement.