New government initiative will use money in redundant bank accounts

A large initiative that has been organised by the government is the Big Society. The initiative is going to be funded by money that has been left in bank accounts and has not been touched in a very long time. Lenders such as Lloyds TSB, HSBC, Barclays and RBS have all contributed money from dormant accounts which has totaled nearly £600 million.

David Cameron has called this money the Big Society Capital and it is all going to go towards improving society in general. Much of the money is going to be used as investment for social projects that should provide affordable finance to people. These projects are going to have to pay back the money when they generate income and it is just being used to get them off the ground.

Mr Cameron has commented, “Banks have been providing capital to help businesses grow for a very long time and we think the time has come for them to help society grow as well. We think that this additional money is going to help solve some of the greatest social problems we have in our country. The money is going to go towards social enterprises and charities and it should encourage them to be successful.”

The Big Society is something that Mr Cameron has been criticised in the past for being too vague over, although he has said it is a key part of his mission as a politician. He has said that it is not always the government’s responsibility to solve all the social issues, but it is society’s responsibility itself.

The government wanted to introduce many volunteering projects and planned to launch ten libraries that were going to be run by volunteers. Unfortunately, the court said that the project was illegal because it would not be able to manage equality issues properly.