Department For Culture Media Sport
This technical consultation follows a commitment made by the government in its response to the consultation on the English portion of dormant assets funding. This stated that community wealth funds would be the fourth cause to receive dormant assets funding in England.
Empowering local people and devolving decision-making power to communities is at the heart of the governments vision for a community wealth fund. This consultation is intended to embed those aims from the very beginning by seeking peoples views on the principles that will underpin the design of a community wealth fund in England.
The government intends for a community wealth fund to target places that are experiencing high levels of deprivation and/or low social capital. In the first instance, a community wealth will target small towns of fewer than 20,000 residents.