Funding news

New Big Lottery Fund policy directions - 3 April 2012

The Cabinet Office has today published the final policy directions which will set out the content of the funder’s strategy for the next few years.

The updated policy directions for the Big Lottery Fund (BIG) introduce a new priority for boosting the capacity of the social investment market.

The Cabinet Office document also makes clear that BIG funding will go “primarily” to the voluntary sector and social enterprises, leaving the door open for the funder to continue to award some money to statutory bodies, as it does now.

The document set out the following principles that BIG should follow as a funder:

  1. Engagement - the development of programmes should be based on the active engagement of public, private and voluntary & community sector and social enterprise partners.
  2. Representation – the development of programmes should take account of those most in need by targeting inequality and improving the capability of people and communities to contribute to, participate in and benefit from outcomes funded through the Fund’s programmes.
  3. Sustainability – a programme’s ability to improve the environment today and for future generations and reduce the impact on the environment.
  4. Longer term benefit – that projects can achieve longer-term financial viability and resilience.
  5. Additionality and complementarity – the development of programmes and funding of projects should complement, add value and be distinct from the work of other funders and parties working towards the Fund’s goals.
  6. Collaborative working – where this produces better results, the development of programmes and funding of projects should support collaborative action between funded organisations and public, private and civil society partners.

For the full document click here.