Dormant Assets Scheme
(asked on 4th February 2021) - View Source
Question to the Department for Digital, Culture, Media & Sport:
What steps he is taking to allocate to good causes the dormant assets identified by the Dormant Assets Scheme.
This question was answered on 4th February 2021
The Dormant Assets Scheme enables money sitting in forgotten accounts to be unlocked for social or environmental purposes.
UK-wide, the Scheme has so far released over £745m, including £150m for coronavirus recovery last year.
Following the government’s consultation response, and years of close industry engagement, I’m delighted to say that the Scheme is now set to be expanded, potentially unlocking over £800m for good causes over the coming years.