Credit Card News Social Fund For Most Vulnerable Gets Cash Boost 8170191

Social fund for most vulnerable gets cash boost

04 April 2005
The Social Fund received a significant cash boost on Friday with the announcement of an extra £10 million to spend on care grants.

The discretionary Fund aims to provide the most vulnerable, low-income households with help to pay for a variety of expenses and household goods.

For the financial year beginning April 1st, the Fund will be able to use its extra cash injection to provide grants to even more people in need.

“The Social Fund makes a significant impact on the quality of life of those most in need and is an important part of the Government’s agenda for tackling poverty and social exclusion,” said Chris Pond, the minister for work and pensions.

“This year I will allocate all of this £10 million to Community Care Grants. These are non-repayable grants which target the most vulnerable in society who are in urgent need of financial help.”

Mr Pond also announced that the budget for interest-free loans administered by the Social Fund has increased to £580 million.

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Written by Editorial Team