The minister for civil society is to conduct a review into the effectiveness of the Social Value Act.
Rob Wilson MP hailed the impact of the social sector during his flying visit to the latest edition of the Social Value Summit, but explained a roundtable review of legislation was needed to ensure the movement does not stagnate.
“The Social Value Act presents an opportunity to harness the passion that exists to make things better,” he said, stripping the concept of social-centric business down to its rawest form.
“Money that flows through the local economy gets more people into work and creates more opportunity for volunteers. “That money is going to be spent anyway, which means billions could go to making things better.”
And, echoing Prime Minister Theresa May’s recent calls for a “shared society”, Mr Wilson went on to say that government at all levels shared a united view on how social enterprises can sculpt the future of the business landscape.
“The authorities are raising the bar; encouraging and asking contractors what extra they are doing,” he said. “The public sector is a catalyst for innovation and shows that the sector is competing and thriving.”
But paramount to that continued success, in his words, was a re-evaluation of the Social Value Act and an assessment of what has been achieved thus far. He explained that key names from the social sector will be involved in discussions.
“We’ll be reviewing the Social Value Act, starting with a round table of sector leaders to find out what’s working well. “It’s easy to talk about the process, but I want to talk about the impact being made both now and for the future. “It’s about using money to get more than just the best possible financial return. “We shouldn’t lose track of the ultimate goal – a shared society.”