David Cameron, the Prime Minister, has told charities and social enterprises that the Big Society Bank will play an important role in helping banks to understand the work they do.
In a speech to voluntary sector figures and journalists in London this morning, Cameron said: "Banks don’t necessarily understand social enterprises. The Big Society Bank should mean more money, more lending and hopefully a better price."
Cameron used the speech to insist that the big society agenda was his "absolute passion" and would not be undermined by spending cuts.
"It’s going to get every bit of my passion and attention over the five years of this government," he said.
Cameron acknowledged that local authority spending cuts would be difficult for the voluntary sector. "Not all local authorities will make good decisions," he said. "Some charities will get cut."
However, he suggested charities could offset the effects of this by bidding for more service delivery contracts. "Instead of getting a drip-feed of public money they can run services that operate on a payment-by-results model," he said.
Cameron said the government would announce more details about its £2m community organisers programme later this week.
He has appointed Conservative MP Charlotte Leslie and youth worker and former Conservative parliamentary candidate Shaun Bailey as "ambassadors" for the big society agenda.