The UK Government's early termination of the Community Ownership Fund (COF) has sparked concerns about the future of local assets, as millions of pounds remain unallocated. Originally launched with ambitions to safeguard cherished community spaces such as pubs, parks, and community centres, the fund has abruptly closed its doors, redirecting funds to other government priorities.
Initially intended to run until March 2025, the COF was meant to distribute £150 million to community projects across the UK. According to reports, approximately £135 million has already been allocated to 409 projects, with the last grant round totaling about £36 million intended to benefit communities nationwide. This early closure has raised eyebrows, with close to £15 million left unspent.
"There will be no more application windows on the Community Ownership Fund programme," the Government update stated, noting the difficult decision made as the program reaches its premature end. The shutdown has been attributed to compelling financial pressures faced by the current administration, which has committed to redirecting the remaining funds to pressing government matters.
Deputy Prime Minister Angela Rayner expressed the significance of the government’s initiative: "We are delivering on our plan for change by saving these vitals community assets, which provide as the opportunities for working people and their families." She emphasized the program’s role in fostering community spirit and collaboration to preserve local identities.
Under the COF scheme, community groups were able to bid for grants of up to £250,000 to save local assets at risk of losing their community heritage. Among the supported projects, approximately £22.5 million has been allocated to 75 initiatives located across England, ranging from historic swimming pools to village inns.
Notable beneficiaries included the historic Portishead Lido and the Victorian Shoalstone Pool, which are among the dwindling number of tidal pools left along the British coastline. The final round of funding also earmarked significant contributions to the renovation of several local pubs. For example, £300,000 has been allocated to restore a 200-year-old pub located in Gwynedd, detailing the continued efforts to sustain local traditions.
Alex Norris, the Minister for Local Growth, commented on the positive community impacts brought about by the grants: "These grants have been prioritised to safeguard and improve what these places offer—from improving access to sport and education to tackling loneliness and boosting family services. This closure does not extinguish our commitment; our full strategy will be unveiled next year."
Scotland received £5 million allocated to 11 projects, with significant funds directed toward refurbishment programs such as the MacMillan Hub community arts centre in Edinburgh, which is set to receive more than £1.7 million. Similarly, Northern Ireland's allocation of £3.7 million across ten projects includes support for autism charities, whilst Wales benefits from £2.1 million for various community schemes.
The COF's closure shouldn't overshadow the progress noted by communities like the Roxwell Chequers Community Benefit Society Ltd, which successfully purchased the Chequers Inn pub earlier this year. Sam Metson, society chair, remarked, "The Chequers Inn purchase marked an important milestone for the community's efforts to preserve the cherished establishment," highlighting the impact local action can have on community ownership.
The broader economic environment poses challenges for community pubs, with inflationary pressures, heightened taxes, and rising beer prices making it increasingly difficult for many establishments to remain afloat. According to research from the British Institute of Innkeeping, approximately 80% of all pubs may become unprofitable following upcoming tax increases.
Despite this setback, the Government has promised to outline future initiatives to reinforce community asset ownership by 2025. This will include replacing the community 'Right to Bid' with the 'Right to Buy' framework, aimed at providing clearer pathways for communities to take over and safeguard local assets.
The Community Ownership Fund’s closure may have shuttered one avenue of support for struggling local establishments, but the Government’s commitment to re-evaluate funding strategies and empower communities holds the potential for revitalizing these cherished local spaces.
