Ahead of the UK elections, the chief executives of co-operative and mutual trade bodies have urged UK political leaders to prioritize co-ops and mutuals in their economic plans.
In a letter to Rishi Sunak, Keir Starmer, and Ed Davey, they called for a commitment to address the needs of the complex legal and regulatory barriers hindering the cooperative sector's growth.
The letter, signed by CEOs from Abcul, the Association of Financial Mutuals, the Building Societies Association, and Co-operatives UK, specifically requested the appointment of a minister for mutuals and co-operatives, the creation of a British business bank fund, and the implementation of the Law Commission’s recommendations on relevant legislation.
The executives called for an environment that involves mutuals and co-operatives in future government policy and economic strategy, with supportive legislative and regulatory frameworks and mutual pools of capital. This appeal builds on prior sector efforts, including a joint prospectus and policy roundtables held across the UK to discuss the potential and support needed for co-ops and mutuals.
Representing a large membership base, the UK elections provide an opportunity for co-ops to guarantee more rights for themselves and their members.
To read the joint press release, click the link above.
