Community Wealth Fund Alliance

18 September 2020

The Community Wealth Fund Alliance (CWFA) is a group of over 250 organisations calling for the establishment of a Community Wealth Fund to invest in the most ‘left behind’ neighbourhoods across England. The funders of the Alliance are Tudor Trust, Lloyds Bank Foundation for England and Wales, Friends Provident Foundation, John Ellerman Foundation, People’s Health Trust, NCVO and Local Trust.

The Community Wealth Fund would take a radically different approach to most funding bodies, with communities at a neighbourhood level supported to take spending decisions. Awards of £2m would be made to each community to spend over the long term (10-15 years), building community resilience and strength and increasing their confidence and capacity to turn their areas around.

The Alliance is calling on government to make the proposal a reality, by releasing the next wave of dormant, or orphaned, assets from stocks, shares, bonds and insurance policies to create a £4bn endowment.

The proposal has the support of the All-Party Parliamentary Group for ‘left behind’ neighbourhoods. Launched earlier this summer, the Group was set up to find long-term policy solutions to improve the social and economic prospects of the 225 wards identified as being both the most deprived neighbourhoods in the country and those with the least community provision. They are neighbourhoods which lack places for people to meet, community activities and have low levels of digital connectivity and poor local transport.

10 councils have become the first in England to add their support to the call for a Community Wealth Fund, a new independent endowment to invest in the most 'left behind’ neighbourhoods in the country. The 10 councils are:

• Durham County Council

• Birmingham City Council

• Peterborough County Council

• Cambridgeshire County Council

• Preston City Council

• Newcastle City Council

• Sunderland City Council

• Thanet District Council

• Calderdale Council

• Liverpool City Region Combined Authority

They have become the first local authorities to join a growing alliance of over 250 organisations supporting the call for significant new investment to enable communities to transform their neighbourhoods

As a member of the Advisory Group to the #CommunityWealthFund Alliance, we’re pleased to see 10 councils officially join the call for the long-term investment in neighbourhoods that need it most.

To learn more about the CWF Alliance, visit https://localtrust.org.uk/policy/community-wealth-fund-alliance/ 

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