Comprehensive Spending Review

In the meantime the Office of the Third Sector will invest over £515 million in third sector programmes, and a £2 billion enterprise and renewal fund will be allocated by government to tackle worklessness, promote enterprise and improve skills in the worst deprived areas.

Over the period of the spending review (2008-11), the Office of the Third Sector will invest over £515 million in third sector programmes, including:

• an £80 million small grants programme for community action and voice
• a £50 million local endowment match fund programme, which will enable local independent foundations to develop community endowments to provide sustainability in future grant making
• £117 million of new resources available for youth volunteering, through the organisation v
• over £85 million for Capacitybuilders, to develop the sector's infrastructure
• up to £65 million for the Futurebuilders fund, bringing the total projected value of all loans, grants and loan guarantees under the management of the fund to £215 million by 2011

The Treasury also announced that the government will allocate £2 billion to establish a new enterprise and renewal fund to focus more intensively on the worst deprived areas, with an emphasis on tackling worklessness, promoting enterprise and improving skills.