WIREDGOV

Finance and Government Business Minister Jane Hutt has today launched the next round of Invest to Save funding with over £20m available for new investments in 2015-16. 

The successful fund helps public sector organisations deliver improvements to frontline services across Wales and generate cash efficiency savings.  Since the fund was launched in 2009, the total value of investments made by the Fund stands at almost £100m, benefitting 94 projects.

Jane Hutt said:  

“This fund is a major success story for Wales.  Independent research has shown that the fund delivers a gross return of £3 for every £1 invested and is helping organisations across Wales to deliver vital improvements to public services across all areas of the public sector.

“That is why we are investing over £20m in 2015-16 so that organisations can continue to achieve their ambition of releasing savings and improving services.  In a time of scarce funds, organisations need to work together to become more resourceful.  The Invest to Save Fund will play a key role in assisting to address the financial and effective service delivery challenges we all face.”

The Minister visited the Children’s Hospital in Cardiff to see first hand how £250,000 Invest to Save funding has helped Cardiff and Vale University Health Board reduce its carbon emissions and generate cost savings through the introduction of LED lighting.  The project aims to generate recurrent annual net cash efficiency savings of £64,000; reduced energy consumption of c500MWh per annum and reduced carbon emissions of 250 tonnes per annum.

“The LED Lighting Project at the Children’s Hospital is a great example of how Invest to Save Funding can drive efficiency savings and improve services.  I encourage public sector organisations to find out more and bid for the new round of investment.”

Applications for the 2014 bidding round have been opened and expressions of interest are sought by 7 January

LinksInvest to Save 2014