Civil Society: Finance
The question
To ask the Secretary of State for Culture, Media and Sport, what assessment she has made of the potential merits of providing financial support to established (a) community and (b) charitable groups.
Answered by Stephanie Peacock
This government recognises the vital role that charitable organisations and community groups play in providing crucial support to families and individuals across the country. These organisations, as well as the wider Voluntary, Community and Social Enterprise (VCSE) sector, are integral to the Government’s vision for national renewal and delivery of the five national missions.
DCMS officials regularly review the health and sustainability of the sector; working with leading research institutions to review available data on a range of sector based issues, including financial stability.
The department continues to promote availability of funding for smaller charities in several ways, including delivery of a number of grant schemes, such as the ‘Know Your Neighbourhood Fund’. Support for charities is also available through social investment which provides access to grants, repayable finance and a blend of the two. In particular, this government is continuing to look at how dormant assets can be used to support the availability of finance to facilitate VCSEs becoming more entrepreneurial and financially resilient. An estimated £350 million will flow into the Dormant Assets Scheme between 2024-28, with details on how this money will be distributed to be provided in due course.
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