Cooperative and mutual businesses account for around £133.5bn of income annually in the UK - and touch the lives of one in three people - a new report by the All-Party Parliamentary Group for Mutuals has revealed.
The Mutual Economy Report shows that friendly societies and mutual insurers generate £19.6bn a year, the fourth highest amount out of the various types of mutual sub-sectors that exist, with NHS foundation trusts making the most amount of income (£52bn) and cooperatives ranking second (£36.1bn). Housing associations contribute the third highest amount of income to the UK economy (£20bn) and building societies provide the least (5.8bn). According to report, despite Brexit uncertainty mutuals are continuing to grow, strengthening the UK-owned business sector and spreading wealth more br...
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