Government to divide £350m dormant asset funding equally among chosen causes

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<div class="entry-content"> <p>The government has revealed details of how money from the expanded Dormant Assets Scheme will be distributed. <br /> <br /> This gives money from unused bank and building society accounts to good causes and is being <a href="https://www.charitytimes.com/ct/Government-reveals-details-of-dormant-assets-expansion-plan.php">expanded</a> to include new assets from the insurance, pensions, wealth management and securities sector. <br /> <br /> Two years ago, the government revealed that this enlarged scheme would be used to support youth, financial inclusion, social investment wholesalers, and community wealth funds.<br /> <br /> This week the government has announced that all four good causes will share the money equally, with £87.5m being distributed over the next four years to each. <br /> <br /> For youth money will be used for “services, facilities or opportunities to meet the needs of young people”.<br /> <br /> While the financial inclusion allocation will be “for the development of individuals’ ability to manage their finances or the improvement of access to personal financial services”.<br /> <br /> Social investment wholesalers’ allocation will include £12.5m specifically to reach organisations that support improve outcomes for young people. <br /> <br /> The government added that “further details will be published in a Dormant Assets Strategy in due course”.</p> <br> <hr> <div class="sharewrap"> <div class="sharestorytext">Share Story:</div> <div class="jsiconwrap"> <a target="_blank" href="https://x.com/intent/tweet?text=Government to divide £350m dormant asset funding equally among chosen causes&url=https://www.charitytimes.com/ct/Government-to-divide-350m-dormant-asset-funding-equally.php"> <i class="fa-brands fa-square-x-twitter" style="color:black;"></i> </a> </div> <div class="jsiconwrap"> <a target="_blank" 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Government to divide £350m dormant asset funding equally among chosen causes - Charity Times