The public consultation on the English portion of dormant assets funding has now officially commenced.

This will determine how nearly £740m worth of new money for good causes is to be spent. And very excitingly for the Alliance, the 12-week long consultation will explicitly consider community wealth funds as an option.

The inclusion of a proposal for a Community Wealth Fund follows a government amendment to the recent Dormant Assets Act, responding to pressure from a cross-party group of MPs.

It is designed to provide support and funding to reinvigorate social infrastructure in ‘left behind’ neighbourhoods. It would do this by providing long-term, patient investment over 10-15 years directly to those neighbourhoods, with local people taking the lead in making decisions about how to use the funds to improve their communities.

We now invite all Alliance members (and any others who have yet to join but are supportive of the campaign’s objectives) to respond to the consultation, which you can do so here.

To assist you in your submissions, we have put together a three-page explainer about the Community Wealth Fund proposal, detailing how the Fund would work, why it’s needed, and the likely impact it would have.

We have also produced a supporting briefing note on some of the data on ‘left behind’ neighbourhoods.

If you have any questions or would like to speak with any of the campaign team before making your submission, please feel free to reach out at any point to the Campaign Manager, Rayhan Haque: rayhan.haque@localtrust.org.uk

We would also greatly appreciate it if you can let us know when you have successfully sent your response in and to share a copy with us (at the above address).

 


 Useful resources:

 

Briefing note: The case for a Community Wealth Fund Briefing note: Levelling up ‘left behind’ neighbourhoods
 

↓Briefing note

 

↓Briefing note

This three-page briefing note provides a summary of the Community Wealth Fund, including an explanation of the proposal, who supports it, and what it can achieve. This four-page briefing note provides a summary of the research and methodology used to identify ‘left behind’ neighbourhoods.