The government has announced a new ‘inclusive economy unit’ which it says will focus on ensuring private investment and business focus on the needs of all individuals, following on from prime minister Theresa May’s commitment to an economy ‘which works for everyone’
The new unit is to be based in the Office for Civil Society in the Department for Culture, Media and Sport (DCMS).
It will not take on any new policy roles within government, but will work in partnership with government departments to encourage better use of private investment and support markets that deliver social impact as well as financial returns.
The unit will also be charged with helping to delivery of public services, and increasing social impact while bringing value for money in the commissioning of public services. In addition, it will encourage what the government terms ‘responsible business’, ranging from social enterprise startups to companies that aim at ‘profit with purpose’.
The unit will be staffed by the existing team who have been working on social investment policy, partnering with government departments, civil society organisations and businesses.
Karen Bradley, secretary of state said: ‘This new unit will further increase DCMS’ contribution to building an inclusive society with opportunity for all. There has never been a more important time for government, civil society and the private sector to come together to deliver a country that works for everyone.’
