A NEW grant fund has been launched to help?low-income?families in?Cornwall take control of their finances.

The?Caledonia Investments?Charitable Foundation will award grants for three years, via the Cornwall Community Foundation (CCF), to groups in communities that run training and courses in financial planning, debt management and other financial education initiatives.

“The?COVID-19?pandemic has exacerbated the deprivation and poverty that already existed in Cornwall, one of the poorest counties in England,” said a spokesperson for CCF.

“Wages are 23% lower than the national average, and Cornwall also has one of the highest rates of personal insolvency in the country.”

Jamie Cayzer-Colvin is chair of the trustees of?Caledonia Investments?Charitable Foundation. He said: “We are 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. 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 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 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.”?