Third Sector

Department for Digital, Culture, Media and Sport written question – answered on 23rd October 2019.

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Photo of Vicky Foxcroft Vicky Foxcroft Shadow Minister (Digital, Culture, Media and Sport) (Civil Society)

To ask the Secretary of State for Digital, Culture, Media and Sport, with reference to page 16 of the Government’s Civil Society Strategy, what steps the Inclusive Economy Unit has taken to follow up the recommendations from the Advisory Group on growing a culture of social impact investment in the UK.

Photo of Matt Warman Matt Warman The Parliamentary Under-Secretary of State for Digital, Culture, Media and Sport

In early 2018, the government published its response to the Advisory Group’s report, supporting the range of the recommendations made and focus areas identified. The Prime Minister then commissioned an industry-led Implementation Taskforce to work alongside government to take forward these recommendations.

Later in 2018, the Civil Society Strategy set out a series of further commitments to unlock and boost social impact investment.

Building on this, DCMS, alongside DfID and City of London Corporation, provided cornerstone funding for the Impact Investing Institute, which will launch in November 2019 and be a focal point for public-private cooperation on accelerating the growth, and improve the effectiveness, of the UK impact investing market.

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