Question to the HM Treasury:

To ask Her Majesty’s Government what assessment they have made of the quality of and ease of access to official data on co-operatives.

The Government does not hold official statistics on co-operatives. Relevant data is held by the Financial Conduct Authority, some of which they publish online.

The legislative function for co-operative and community benefit societies resides with HM Treasury; there are currently no plans to change this.

The Financial Conduct Authority is the registrar for co-operatives and community benefit societies. It has no regulatory functions over societies which are not also authorised to carry out financial services activities.

The Government is content that the legislative framework in place supports innovation in co-operative capital. The government has implemented a package of measures this year to strengthen the co-operative sector. This includes increasing the amount of withdrawable share capital an individual can invest in a society from £20,000 to £100,000, making it easier and cheaper for co-operative societies to raise capital.