Agenda item

Report of the Chief Grants Officer

The Chief Grants Officer informed the Board that since the last meeting on 14^thDecember 2012, the Social Investment Advisor (SIA) had continued to build up external relationships with public and private sector bodies involved in social investment both in the UK and internationally.

Policy highlights since December included a budget commitment to introduce a social investment tax relief, a significant role for the City of London Corporation in the formation of the G8 agenda, which featured social impact investment for the first time.

Members were informed that the conclusion from the Cabinet Office’s Red Tape Challenge was a commitment to examine the key barriers to the take up of social investment, as identified in the City of London Corporation’s submission. The social investment agenda was also well reflected in the amendments to the Financial Services Bill. A range of other initiatives had attracted further interest to social investment from financial advisors and asset managers.

RESOLVED - That the Advisor’s report be a standing item which included updates on investments approved by Big Society Capital.