(5 years, 6 months ago)
Commons ChamberI have had conversations with the devolved Administrations on sport and connecting communities, but I have not directly had any on that issue. I am however very happy to take that up and co-operate with colleagues across the House to work with the devolved Administrations. As a Wales Minister, I was very aware that there are particular communities that we need to make sure Westminster and Whitehall are reaching.
We are breaking down barriers to volunteering for everyone, and we are focusing on those at risk of loneliness and looking to the long term to help those people who might want to get involved and who might need a new direction and feel isolated. I am backing that again today with cash: £250,000 for new funding to do exactly that.
When communities are facing their moment of greatest need, a connected community is what matters most. We saw that in the aftermath of the Grenfell Tower tragedy. Local charities at the heart of the community stepped up, working in partnership with national organisations and emergency services to provide support for those in need. The public responded, too, by raising over £29 million. That was unprecedented, and it highlighted that we are at our very best when we come together and help each other. This community support was invaluable in helping the Government reach the Grenfell victims and their families quickly, and we will continue to support them. We are working with our experienced charity partners to further strengthen the response and be ready for any future emergencies.
How can business help our communities? Society’s needs are at the heart of good decision making. The private sector is a great force for good, and this is a chance to address society’s most pressing issues by encouraging innovative public services to work alongside private investors, socially responsible businesses and social enterprise. From tackling homelessness to helping young people reach their full potential, business and finance can and must play a crucial role.
Through social impact bonds, we are bringing together investors who want to make a difference with charities who have the expertise to make real change. This successful model is already having a positive impact on people and communities across the country. Charities such as St Mungo’s and Thames Reach are working with the most vulnerable rough sleepers in London to help them rebuild their lives. This social impact bond gives charities the financial safety net to do this important work, and I was struck by the passion and commitment of the staff I met last week and the results they have achieved. Since the project was launched in 2017, it has helped more than 150 people to find homes. We know that this funding model works, and that is why we are investing £80 million through the life chances fund to give more support to social impact bonds that create people-focused results. People matter, and we are delivering for them.
I worked on social impact bonds prior to entering this place. One of the big barriers that social enterprises face in drawing down social impact bonds is the lack of expertise in unlocking these complex instruments. What support will there be within the fund to ensure that that money can be drawn down by social enterprises?
In my new role in this Department, I have found nothing but complete expertise to absolutely make this work. If the hon. Gentleman would like to raise a particular issue relating to his experience, I would be happy to hear from him directly.
There is more that we can do to help vulnerable people across the country. We are working with the banks and the building societies to unlock millions of pounds from dormant accounts. Instead of gathering dust, that money is being invested in helping our young people into employment and in tackling problem debt. In 2018 alone, £330 million of dormant assets funding was announced, and by 2020, the total distribution from dormant accounts will reach more than half a billion pounds. We will expand that scheme further to help more vulnerable people to benefit. This funding is changing lives for the better, with £90 million helping the most disadvantaged young people into employment and £55 million tackling problem debt. These initiatives are led by two independent organisations.
The Government want an economy that works for everyone in every part of their life. We are building a strong foundation for social impact investing, which is bringing more capital funding to social enterprises and charities in the UK, alongside traditional forms of funding for these organisations. I am mindful that lots of people want to speak, so I shall try to commute my remarks, but I want to get these key messages out. This works in practice. Since its launch in 2012, Big Society Capital has committed more than £520 million and leveraged more than £1.2 billion of additional co-investment into this space.
The Government are building on these successes and will be using a further £135 million from dormant accounts to help further charities and social enterprises. In addition, the Government have commissioned an advisory group, and the Prime Minister has personally asked for an industry-led implementation taskforce to deliver its recommendations. We also have an inclusive economy partnership, where we work with businesses such as O2, Landsec and Accenture and with social innovators to find practical solutions and to unlock the issues on the ground. We also have the This is Me programme, an inclusive workplace programme that focuses on mental health issues, and it is working with Landsec. This is an area in which we are working with business and the community to ensure that we can deliver on the ground.
(5 years, 6 months ago)
Commons ChamberMy hon. Friend makes a good point about free-to-air sport—indeed, I made that point to rugby union representatives today—but if we are prepared to pay for Netflix, we should also be prepared to pay for great sport. We should have the broadest opportunity for people to be seen participating and inspiring at the highest level.
On participation, I was talking about everyone, and I am pleased that the Chamber feels the same. We must ensure that everyone can benefit from sport. I also want to ensure that we reach harder-to-reach groups and get them active and staying active.
I am sure the Minister knows that basketball is the second most played team sport in the UK and reaches hard-to-reach groups in urban communities. I pay tribute to the Department for Digital, Culture, Media and Sport and her predecessor, the hon. Member for Chatham and Aylesford (Tracey Crouch), for giving £500,000 to GB Basketball. It meant, in particular, that the women could stay on court and qualify for EuroBasket top of their league. It is important to look at UK sport funding to ensure that basketball can make its Olympic dream come true.
Basketball is a sport that has been helped by the aspiration fund, which makes it possible to turn the dial, become medal winners and so continue to inspire. I am delighted about the fund, and I, too, pay tribute to my predecessor.
I was talking about harder-to-reach groups, and some of those have just been described. We want more women; more black, Asian and minority ethnic women and men; and more disabled people taking part in sport, as well as those who might have a hard time finding the cash for exercise and wellbeing. We want everyone to have the opportunity to take part, including those who struggle to find a family activity that they enjoy—we have heard about that this evening as well. These are often the people facing the biggest hurdles to being active, and they are the people we need to support most. I want to tackle those hurdles and make sport fun.