Funding news

End of Futurebuilders Confirmed - 9 June 2010

Nick Hurd, minister for civil society, has confirmed that future revenue from the £200m Futurebuilders programme will be used to provide grants to stimulate the creation and development of neighbourhood groups.

Plans to scrap Futurebuilders, which is managed by the Social Investment Business, was mooted in the Conservative party’s manifesto this March.

Part of the Social Investment Business, Futurebuilders was a government-backed fund offering support and investment to third sector organisations to deliver public services. Futurebuilders provided a combination of loans, grants and professional support to build the capacity of third sector organisations who want to deliver better public services or compete for contracts in the public sector.

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Shadow Cabinet Office minister Tessa Jowell has criticised the government for ending Futurebuilders. For more information see the Third Sector article.