Co-operatives and Mutual Societies
The following is an extract from the Westminster Hall debate on Co-operatives and Mutual Societies on 14 December 2021.
We have also released £96 million of dormant asset funds to Fair4All Finance, to support access to affordable credit products, including those from credit unions. Last Monday, on Second Reading of the Dormant Assets Bill, we introduced the extension of the pool of moneys that will be available from an extended range of financial instruments—£880 million over the next 10 years—which will be for Fair4All Finance to allocate.
[Official Report, 14 December 2021, Vol. 705, c. 271WH.]
Letter of correction from the Economic Secretary to the Treasury:
An error has been identified in my speech.
The correct information should have been:
We have also released £96 million of dormant asset funds to Fair4All Finance, to support access to affordable credit products, including those from credit unions. Last Monday, on Second Reading of the Dormant Assets Bill, we introduced the extension of the pool of moneys that will be available from an extended range of financial instruments—£880 million over the next 10 years—which will be available for allocation.