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McCann calls on Credit Union to create £100 million social fund

23 September, 2014 - by Jennifer McCann

Sinn Fein MLA and Junior Minister Jennifer Mc Cann has called for the Executive to work with the Credit Union movement to create a  £100 million Social Fund. 

Speaking ahead of an event showcasing the social economy the West Belfast MLA said; 

"At a time when Tory budget cuts to the block grant are directly impacting on peoples lives here the Executive needs to work closely with organisations like the Credit Union Movement to identify alternative finance.

"The creation of a £100 million social fund through the Credit Union would provide finance for local business start ups from the social economy sector.

"It would also help those businesses that have already been established to develop and grow.

"This along with other proposals including enabling the Housing Executive to use its assets to borrow from institutions such as the European Investment Bank will free up Executive money for other public services.

"The executive needs to unite to call for more fiscal powers and be innovative around initiatives which will create alternative finance.

The way to tackle unemployment and poverty is to create jobs with a living wage, it will not be achieved by  attacking the welfare state and imposing cuts on the working poor and disabled."

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