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Big Society Bank

Part of Oral Answers to Questions — Cabinet Office – in the House of Commons at 11:30 am on 2nd March 2011.

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Photo of Francis Maude Francis Maude The Paymaster General and Minister for the Cabinet Office 11:30 am, 2nd March 2011

I am grateful to the hon. Gentleman for that relevant question. The introduction of the big society bank certainly does not obviate the broader need to support voluntary and social enterprises, in the interests of local residents. The bank’s remit will be UK-wide. The money put in by the banks will be for UK purposes, but the money coming into the big society bank in due course from dormant bank accounts will be for England only, unless the devolved Administrations decide to put their share of that money into the big society bank, which I hope they will be encouraged to do.

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