On Monday 21 November, the European Commission authorised changes to the aid scheme in favour of the social investment scheme Big Society Capital (BSC). In 2011, the Commission gave its approval for the UK to grant the maximum support of €400 million to BSC, whose objective is to invest in social companies, mainly Social Investment Finance Intermediaries (SIFIs) that are struggling to obtain financing from the market at affordable prices.
Among other things, the amendments will entail an...