§ The Chief Secretary to the Treasury (Mr. Paul Boateng)Today I am announcing the result of collaborative work with the voluntary and community sector to design the futurebuilders fund.
I am publishing the final report on the fund, following consultation, along with a summary leaflet. I am also publishing a consultation report, which contains the key messages from the consultation. Copies of all three documents are being made available in the Vote Office and the Library of the House.
These reports are being published jointly with the Compact Working Group, reflecting the fact that the voluntary and community sector has been central in shaping the fund.
35WSFuturebuilders will invest in voluntary and community organisations, and social enterprises, to assist them in their public service work. It will enable organisations to modernise their operations so that they can increase the scale and scope of their public service delivery. It is targeted at organisations working in or across the service areas of health and social care; crime; community cohesion; education and learning; and support for children and young people.
36WSThe fund will provide finance to acquire capital assets, through a range of funding solutions, including grants and different forms of loans. Advice and support will also be available to organisations to help them in accessing the fund.
The manager(s) of the fund will be appointed through open competition. Advertisements are being placed this week seeking expressions of interest.