HM Treasury has outlined plans, in a speech by Economic Secretary to the Treasury Rachel Blake at the Co-op Congress in Birmingham, to appoint a Co-operatives and Mutuals Champion. The proposed role would raise the profile of mutuals and co-operatives and represent their interests across government, as part of the government’s commitment to double the size of the sector. The announcement was framed as support for a sector that includes more than 8,400 registered co-operative and community benefit societies across the UK, with around GBP 223 billion in assets and 12 million memberships. It follows the Department for Business and Trade’s earlier call for evidence on co-operatives and non-financial mutuals and comes after the introduction of the Financial Services and Markets Bill, which includes credit union common bond reforms intended to make it easier for credit unions to expand membership and broaden access to affordable credit and savings.
HM Treasury2026-06-12
United Kingdom's HM Treasury sets out plans for a Co-operatives and Mutuals Champion to help double the sector’s size
In a speech at the Co-op Congress, HM Treasury set out plans to appoint a Co-operatives and Mutuals Champion to raise the sector’s profile and represent its interests across government. The move forms part of the government’s commitment to double the size of the mutuals and co-operatives sector and sits alongside work on non-financial mutuals and proposed credit union common bond reforms.