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Office for Civil Society announces VCS cuts of £11 million
29 July 2010
As part of the £6.2 billion savings challenge announced by the Treasury in May 2010, The Office for Civil Society has announced that it will be making £11 million savings from its 2010/2011 budget.
The £11 million savings will come from:
► £2 million which was already unallocated in the Office for Civil Society budget.
► £5 million reduction in the v match fund. The v match fund provides for v to match fund private sector investment in youth volunteering projects on a pound for pound basis. The £15 million fund was under spent by £4.4 million in 2009. In 2010-11 they will now have access to up to £10 million for matching purposes.
► £1.95 million reduction in the £39 million grant to v.
► £1.3 million in Capacitybuilders funding. Existing grant holders will be unaffected, committed grants will continue to be paid. The majority is being saved by cancellation of any further new awards under the Regional Networks Fund, Social Enterprise support and remaining elements of the ChangeUp programme.
► £0.4 million in the Commission for the Compact. The organisation has identified savings which can come from non essential work.
► Other smaller savings, including £0.13 million in payments to the Regional Development Agencies to deliver business support for social enterprises and £0.111 million from social enterprise action research programme which funds individual projects across Government addressing policy issues with social enterprise solutions.
More information on the Cabinet Office website
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