The value of major project funding by the Heritage Lottery Fund will grow substantially next year to £30m.

The HLF has announced plans to increase its commitment to ‘major transformational projects’ – which involve grants of £5m or more – by half in 2011, up from £20m a year this year.

In a bid to help organisations work to timetables that suit their projects better, the HLF has also immediately canned its second-round submission deadline.

The funder, which could see a significant increase in annual income if Government proposals to reform Lottery good cause funding are passed, has attributed the changes to the economic climate.

Carole Souter, chief executive of the HLF, said: “This is a first step response to the challenging economic climate. We are setting aside more money when applicants might be finding it hard to raise funds elsewhere, and our applicants will have more flexibility in how they manage their projects during the tough times ahead.”

Photo credit: Andrew Butler