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Prospects visits Number 10 to celebrate mutuals

28 July 2014

Ray Auvray, Chairman, attended a reception at 10 Downing Street on Wednesday (23 July) to celebrate the creation of 100 public service mutuals, companies 'spun out' of the public sector, owned by their members.

Prospects was one of the first and largest organisations to become a mutual, when it did so in 2011. The 100 mutuals are providing nearly £1.5 billion of public services and have generated more than 3,000 jobs in the last three years.

Francis Maude, Minister for the Cabinet Office, said: "There are now 100 public sector mutuals across England and Wales. These are new businesses, employing 35,000 people and delivering services from community health to libraries. We know this is just the beginning of a massive transformation – we have even had interest from a fire service looking to mutualise."

Ray said: "It is great that the Cabinet Office recognises the important contribution mutuals provide for the economy, both in terms of public savings and creating jobs. Becoming a mutual has helped Prospects' staff to shape how we operate as a company and deliver public sector contracts. More companies are following where Prospects has led."

Find out more about Prospects support for organisations which are interested in becoming mutuals.

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