The future of community asset ownership campaign Locality have launched 'Places & Spaces – The future of community asset ownership' campaign, which urgently calls for £1bn worth of investment to save the nation’s public assets from being lost for good. This is a project we have been working on for some time at Locality. With austerity measures and cuts to local authority budgets meaning that hard-pressed councils are having to sell, cut or shut crucial parts of our community infrastructure, we believe something must be done. Locality are working to unite the voice of our network and shape policy at the highest level to make your essential local work easier. It is estimated that local authorities currently have an asset base of £250bn, but over the next few years there is a huge risk that more and more publically-owned land and buildings will be lost. Our report shows this is particularly the case in deprived areas. England’s public buildings and spaces are vital - whether it's a local library, green space or community centre, these assets form part of our neighbourhoods, and when lost, have devastating implications for the people that enjoy and depend on them. How the funding will help We know there is a better way - many of you have shown us that it can be done. Communities are willing to fight for the public assets that mean something to them - losing valued land and buildings should not be an option! We are calling on central government and other funders to invest in a new £1bn community asset investment programme, which will support community groups and organisations to take over the management or ownership of their local public land and buildings.