HISTORIC PRESS RELEASE : Consortium of charities to administer £125m, futurebuilders [December 2003]

The press release issued by HM Treasury on 17 December 2003.

The Chief Secretary to the Treasury, Paul Boateng, today announced that a consortium of charities has been selected to administer and distribute the £125m futurebuilders fund.  The consortium will be led by Charity Bank, NCVO and Unity Trust Bank. Other organisations that will play a key role are the Impetus Trust, the Community Fund and the Northern Rock Foundation. Together, they bring a wide range of experience in grant-making, loan finance and funding information and advice to the voluntary and community sector.

Chief Secretary to the Treasury, Paul Boateng said:

“In selecting this consortium, we are ensuring that the voluntary and community sector will continue to be in the driving seat in running the fund. This has been a unique and rewarding project to work on and I wish futurebuilders great success as it now begins to filter down to the organisations in the sector that need it most.”

Fiona Mactaggart, minister in the Home Office, who will assume lead responsibility for futurebuilders in the New Year, said:

“This is good news. This investment will help voluntary and community organisations play a more central role in service delivery. It will mean improved and expanded services that offer greater choice to local people. What we all want to see is this money out and working in the sector as soon as possible.”

Sir Michael Bichard, Chair of the Compact Working Group, commented:

“The consortium that is taking on the task has the strength and depth of experience of the voluntary and community sector and of social enterprises to ensure that this exciting new fund reaches far and wide in its investments, and makes a real difference in improving and expanding public services.”

Chief Executive of Charity Bank, Malcolm Hayday said:

“We in the consortium are very pleased to have been selected provider of choice. We are now eager to get on and put our systems in place so that the fund is up and running as soon as possible. We will announce further details just as soon as the formalities of the contract are concluded.”