Question to the Department for Digital, Culture, Media & Sport:

To ask the Secretary of State for Culture, Media and Sport, how much money from dormant funds has been transferred to (a) the National Lottery Community Fund and (b) non-profit organisations in the last 10 years.

Since the Dormant Asset Scheme’s inception in 2011, £982 million has been transferred to The National Lottery Community Fund to tackle financial exclusion and problem debt; break down barriers to work for young people; and invest in charities and social enterprises, particularly in more deprived areas. As of February 2024, £771 million has been apportioned to England.

Funding for the English portion is distributed through four independent organisations, to deliver the Scheme’s initiatives. These organisations draw down from their allocations annually, according to need. Up to and including the 2023/24 financial year, the Secretary of State has allocated the following sums in England:

• Youth Futures Foundation has been allocated £125 million;

• Fair4All Finance has been allocated £145 million;

• Big Society Capital has been allocated £444 million; and

• Access - The Foundation for Social Investment has been allocated £73 million.

These allocations include support for initiatives such as £15 million to expand the No Interest Loan Scheme to reach 69,000 more people and £15 million for the Building Futures Programme, supporting young people at risk of becoming not in employment, education or training.