Clause 34 - New companies
Companies (Audit, Investigations and Community Enterprise) Bill [Lords]
11:00 am
Ms Jacqui Smith (Minister of State (Industry and the Regions and Deputy Minister for Women), Department of Trade and Industry; Redditch, Labour)
The hon. Gentleman makes an important point, which reinforces the importance of community interest companies, particularly because of their role in respect of disabled people. We have put considerable investment into the development of the proposal, not only in the Bill, but in promoting social enterprise generally. There is a future builders' fund of £125 million from the Home Office to support the development of voluntary and community organisations offering public services. However, a new fund to provide finances to organisations wishing to set up community interest companies is not appropriate because that is one choice among many options. There are many ways in which we can support community interest companies and I am extremely willing to write to all members of the Committee outlining what they are.