§ Mr. PurchaseTo ask the President of the Board of Trade if he will list the main types of organisation involved in the co-operative, mutual and non-profit sectors of the economy; what comparisons by size he has made between those sectors with the company sector for comparable industrial and commercial categories including banking, insurance and retailing; what action the Government are taking to foster and develop the co-operative, mutual and non-profit section of the economy; and if he will make a statement. [26925]
§ Mr. PageThe main types of organisations involved in the co-operative, mutual and non-profit sectors of the economy are building societies, friendly societies, credit unions and industrial and provident societies. Directly comparable figures for this sector and for company sectors in similar categories are not available.
As part of the deregulation initiative, the Government have reviewed the legislation governing the activities of building societies, industrial and provident societies, credit unions and friendly societies. New draft legislation 247W for building societies is proposed for early in the next Session, which will allow them to operate more flexibly and to offer a wide range of products and services. Amendments to legislation governing industrial and provident societies, credit unions and friendly societies will be laid before Parliament on 26 June under the order-making power of the Deregulation and Contracting Out Act 1994.
§ Mr. PurchaseTo ask the President of the Board of Trade what proposals he has to fund innovative co-operative projects along the lines of those provided in the three years following the demise of the co-operative development agency; what funding is available for this type of project in the current financial year; and if he will make a statement. [26927]
§ Mr. PageMy Department supported projects to the value of over £100,000 in 1993–94. There are no plans to fund development projects specifically related to co-operative businesses in the current financial year.