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Social investment bank is given cautious backing
By Helen Warrell, Third Sector, 1 August 2007
The Government's first public endorsement of the Commission on Unclaimed Assets' proposal for a social investment bank to finance the third sector has received a cautious welcome from charity banking experts.
Malcolm Hayday, chief executive of Charity Bank, said the bank must be independent of government. "There is a risk that government will seek to use the bank for short-term policy purposes rather than allowing a long-term market to develop," Hayday said. Charles Middleton, managing director of Triodos Bank, said: "Creating...
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