Jon Trickett MP, Labour’s Shadow Minister for the Cabinet Office, in response to the Government’s launch of Big Society Capital, said:
"Charities need all the support they can get. This announcement is welcome, but it is too little, far too late. The Government should not over claim at a time when over 70,000 jobs in the sector have been lost in the last year alone and too many charities are cutting back on the support they provide to individuals and communities as a result of the Tory-led Government's cuts that go too far, too fast.
"The voluntary and community sector stands to lose an estimated £1.2 billion per year for the rest of this Parliament. The Prime Minister's announcement will not reverse the damage his Government has already inflicted on one of the most valuable sectors in our society."