Cooperatives: Regulation

HM Treasury written question – answered on 7th September 2017.

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Photo of Rachel Reeves Rachel Reeves Chair, Business, Energy and Industrial Strategy Committee

To ask Mr Chancellor of the Exchequer, what plans he has for regulation of cooperatives after the UK has left the EU.

Photo of Stephen Barclay Stephen Barclay The Economic Secretary to the Treasury

There are no current plans to review the regulatory framework for co-operatives.

The Government is committed to supporting the co-operatives sector and is currently consulting on a proposal announced at Spring Budget 2017, to increase the thresholds at which co-operatives and community benefit societies have to appoint an auditor. This will allow societies to use more of their resources to benefit their members instead of completing onerous administration.

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