Call for £200m fund to help community groups

The Commission on Unclaimed Assets should set up a fund of up to £200m to help community organisations grow and stabilise, according to the Development Trusts Association.

The association was responding to the commission's proposal to form a social investment bank to distribute to good causes dormant funds left forgotten in UK bank accounts (Third Sector, 19 July 2006).

"To be sustainable and effective, social and community enterprises need to develop their own asset bases," said Hugh Rolo, community enterprise investment manager at the association, which thinks the fund should be set up within 10 years.

"The package we are proposing is along the lines of something we have already done. Third sector organisations need to be thinking about their operations in the long term."

The association's idea was a response to the commission's consultation about how unclaimed assets could be used, which closed last month.

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