The government has just announced a one-year, £100m transition fund to help the voluntary and community sector adjust to new public spending budgets.

Chancellor George Osborne (pictured) announced the fund early on in today’s speech outlining the detail of the Comprehensive Spending Review will will govern public spending for the next four years.

He said the £2.6bn Cabinet Office budget would be reduced by £55m by 2014/15 but there would be additional funding to support the Big Society, to pay for 5,000 new community organisers, and to pilot the National Citizen Service.

And he said there would be a £100m transition fund to support those organisations that are most affected by cuts in public budgets.