For more than a decade the UK government has been keen to support the development of a social investment market. In April 2010 it set up the Social Investment Task Force (SITF), which made a number of recommendations, some of which have been implemented, for example, the introduction of Community Investment Tax Relief. Since 2010, the coalition government has introduced a range of policies designed to further stimulate the market. These include launching Big Society Capital, providing £100m to the Social Enterprise Investment Fund and supporting social impact bonds.
Total social investment in the UK in 2010/11 has been estimated at £165m, of which 70% was made by the four social banks (Co-operative, Triodos, Unity and Charity Bank) Intermediary investors managed funds ranging from just over £2.5m of government funds, for direct lending, up to £600m of wholesale funds. Most lending was for land or property purchase, construction or renovation and was secured. For these reasons, social investment is generally described as an emerging market and, while research suggests that there has been an increase in the supply of social investment, demand for social investment finance remains limited.
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