Government unveils Community Ownership Fund to help local people take over and save theatres

Chancellor Rishi Sunak has unveiled a Community Ownership Fund – which will hypothetically allow local people to "take over" and save endangered theatres.

As part of the plans, launched today, sports clubs, theatres, music venues and post office buildings can be aided by community groups – who will be given up to £250,000 to support spaces in their area through matched funding.

The fund is set to open this summer and last for four years. Many further details are expected to be released, providing clarity on how exactly the Fund will work in practice.

Rishi Sunak said: "This fund will help to ensure vital local institutions aren't lost to those who treasure them most."

The fund is part of today's wider Budget – which we have examined in further detail here.

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