I hadn’t noticed before, but there are any number of ‘lords a leaping’ in the well-known Christmas song, the Twelve days of Christmas – anything from 10 to 12, in fact! (Source: Wikipedia, Twelve Days of Christmas)
I wonder how many lords are ‘a leaping’ today, following the Chancellor’s Autumn Statement yesterday? I’m sure there are not that many social enterprises ‘a leaping’, that’s for sure!
As you may know, I was a member of the working group that consulted on the Social Investment Tax Relief (SITR) that was highlighted in the Autumn Statement yesterday. The outcome is disappointing at best.
Despite pointing out a clear solution to HM Treasury, in the form of the Social Enterprise Mark criteria to identify social enterprises, the Treasury have limited the impact of SITR to a small set of legal structures, where few organisations will benefit.
I’m clearly concerned that around 30% of Mark holders are potentially excluded from being eligible. However, if this is the chosen method of applying social investment, we have yet to see if it will really address the resource needs of Mark holders anyway.
The Government will publish its response to the consultation alongside draft legislation next week and I’ll be attending the next HM Treasury consultation in January, but I don’t expect to see a u-turn.
I doubt you’ll see ‘1 Lucy leaping’, thats for certain!