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<p>The Government recognises the value of co-operatives, and the contribution they
make to all sectors of the economy. The first phase of our economic response has seen
us take unprecedented steps to support the economy through the crisis; to keep as
many people as possible in their existing jobs, to support viable businesses, including
co-operatives, to stay afloat, and to protect the incomes of the most vulnerable.
Co-operatives, like other businesses, have been eligible for a range of Government
support schemes, including the Coronavirus Jobs Retention Scheme, grants delivered
by Local Authorities and business loans.</p><p> </p><p>The Government has taken significant
steps to support the growth of co-operatives right across the country. In 2014 the
Government passed the Co-operative and Community Benefit Societies Act, to reduce
legal complexity for co-operatives and community benefit societies, and at the same
time increased the amount of share capital an individual member can put into a co-operative
society to £100,000.</p><p> </p><p>HM Treasury officials also hosted a ‘Mutuals Workshop’
with representatives from the sector in 2019, to understand the challenges faced by
mutuals and how Government can help to address these.</p><p> </p><p>As we start to
open the economy up and we look forward, we will consider how best to support the
economic recovery. We will develop new measures to grow the economy, to back businesses,
including co-operatives, and to help people thrive in the new post-Covid world. We
will continue to consider how we can best support the co-operative sector to reach
its potential, and welcome the views of Co-operatives UK and others in the sector
as we do.</p>
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