London Evening Standard columnist Anthony Hilton applauds the official establishment of England's Big Society Capital, a social bank set up to finance the social sector.

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"The banks were sitting on several hundred million pounds of orphan assets - money in accounts that had not been touched for 15 years or more. The plan was to mobilise this capital and use it to fund an organisation that would provide financial muscle for the social sector, which means charities and voluntary associations. These do a huge amount of work but lack the financial expertise and access to capital markets. If they had such access, they could expand and do so much more.

"That is the heart of the concept behind Big Society Capital. It is an organisation that for the first time will give the social sector access to the capital markets and will marry social expertise with financial expertise."

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