New grant fund launched to develop the financial skills of low-income families in Cornwall.

The Caledonia Investments Charitable Foundation, a charity established by Caledonia Investments plc, has created a new grant fund to support financial planning, debt management and financial education initiatives for low-income adults and families in Cornwall and the Isles of Scilly. Managed by Cornwall Community Foundation, the fund will award grants to community groups supporting people financially at risk in Cornwall.

The COVID-19 pandemic has exacerbated the deprivation and poverty that already existed in Cornwall, one of the poorest counties in England, with wages 23% lower than the national average. Cornwall also has one of the highest rates of personal insolvency in the country.

The funding from the Caledonia Investments Charitable Foundation will be awarded as grants to front-line community organisations that help people gain control of their finances to create a brighter future for themselves and their families. Education, training and awareness are at the heart of the programme to help people prevent, manage and ease financial distress.

Jamie Cayzer-Colvin, Chair of Trustees of Caledonia Investments Charitable Foundation said, “The Caledonia Investments Charitable Foundation is delighted to be working with the Cornwall Community Foundation on this incredibly important initiative. Too often we are surprised that beautiful holiday destinations, such as Cornwall, are beset with people in dire financial need. As an organisation, whose roots were formed in Cornwall, we are very pleased to be working on this multi-year project to change families’ lives.”

Expressions of interest are being welcomed by CCF from community groups and charities in Cornwall and the Isles of Scilly that want to develop their training and awareness-raising support for individuals and groups at risk of or experiencing financial precarity.

Tamas Haydu, Chief Executive of CCF commented, “We are very grateful to The Caledonia Investments Charitable Foundation for this generous three year funding commitment. It really will transform the lives of thousands of individuals and families in Cornwall who are struggling to overcome the challenges of low income and debt. It’s great that Caledonia, an organisation with global investment expertise based in London, is supporting and sharing financial expertise for those who need it most in Cornwall, where the company has historic roots.”

Fill out an Expression of Interest form here.