Five youth charities have been given funding totalling £1.45m by the Cabinet Office in the final round of its Uniformed Youth Social Action Fund grants, using money collected from fines levied on banks after the Libor affair.
More than £200m has so far been paid to good causes from money raised from fines by banks for manipulation of Libor – an interest rate charged by banks for short-term loans to each other.
The UYSAF, worth a total of £10m, was launched by Brooks Newmark, the previous Minister for Civil Society, in August last year.
Projects that will be funded by the new money include the creation of a police cadet unit in a young offenders institution, transport for children in isolated rural communities to attend Boys' Brigade meetings and efforts to get more young people with learning difficulties or physical handicaps to become scouts.
It is part of the #iwill campaign to increase the number of young people taking part in social action by 50 per cent by 2020.
Rob Wilson, the Minister for Civil Society, who is due to visit a Volunteer Police Cadet event later today to make the announcement, said: "The Uniformed Youth Social Action Fund is an excellent example of how the Cabinet Office is using money collected through Libor fines to increase youth social action across the UK.
"Research from the #iwill campaign has revealed that four in 10 young people took part in meaningful social action over the past year, which is a fantastic start – but we want to continue to encourage more young people to get involved in their communities. These projects will help to build a generation of young people with raised aspirations and greater prospects for their future."