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Culture, Media & Sport</a>, <a class="govuk-link" href="/web/20230308101642/https://www.gov.uk/government/people/nadine-dorries">The Rt Hon Nadine Dorries MP</a>, <a class="govuk-link" href="/web/20230308101642/https://www.gov.uk/government/people/nigel-huddleston">Nigel Huddleston MP</a>, <a class="govuk-link" href="/web/20230308101642/https://www.gov.uk/government/people/lucy-frazer">The Rt Hon Lucy Frazer KC MP</a>, and <a class="govuk-link" href="/web/20230308101642/https://www.gov.uk/government/people/stuart-andrew">The Rt Hon Stuart Andrew MP</a> </dd> <dt class="gem-c-metadata__term">Published</dt> <dd class="gem-c-metadata__definition">16 July 2022</dd> <dt class="gem-c-metadata__term">Last updated</dt> <dd class="gem-c-metadata__definition"> 7 March 2023 — <a href="#full-publication-update-history" class="gem-c-metadata__definition-link govuk-!-display-none-print js-see-all-updates-link" data-track-category="content-history" data-track-action="see-all-updates-link-clicked" 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M30,122h48v-9H30V122z M12,68h9v-9h-9V68z M12,104h9v-9h-9V104z M12,86h9v-9h-9V86z M12,122h9v-9h-9V122z M87,12v27H12V12H87z M33,17h-4v8h-6v-8h-4v18h4v-7l6,0v7l4,0V17z M49,17H35l0,3h5v15h4V20l5,0V17z M68,17h-4 l-5,6l-5-6h-4v18h4l0-12l5,6l5-6l0,12h4V17z M81,32h-6V17h-4v18h10V32z M30,68h57v-9H30V68z" stroke-width="0"></path> </svg> </a> </div> <div class="attachment-details"> <h3 class="title govuk-!-font-size-27 govuk-!-font-weight-regular"><a class="govuk-link" href="/web/20230308101642/https://www.gov.uk/government/consultations/consultation-on-the-english-portion-of-dormant-assets-funding/outcome/government-response-to-the-consultation-on-the-english-portion-of-dormant-assets-funding">Government response to the consultation on the English portion of dormant assets funding</a></h3> <p class="govuk-body metadata"> <span class="type">HTML</span> </p> </div> </section> </div> </section> <h2 class="gem-c-heading gem-c-heading--font-size-27 gem-c-heading--mobile-top-margin">Detail of outcome</h2> <div class="consultation-outcome-detail"> <div class="gem-c-govspeak govuk-govspeak direction-ltr" data-module="govspeak"> <div class="govspeak"> <p>This is the government’s response to the consultation on the broad social and environmental purposes of the English portion of dormant assets, which ran from 16 July to 9 October 2022.</p> <p>The government response summarises views from over 3,300 consultation responses from the general public, civil society organisations and the financial services industry, whose voluntary participation drives the success of the Dormant Assets Scheme. After considering all responses, the government intends to name youth, financial inclusion and education, social investment wholesalers, and community wealth funds as the purposes of the English portion of dormant assets funding. The government response sets out next steps to achieve this, including launching a technical consultation on the design of a community wealth fund and naming the four causes in secondary legislation.</p> </div> </div> </div> <section class="original-consultation"> <header> <h2 class="gem-c-heading gem-c-heading--font-size-27 gem-c-heading--mobile-top-margin" id="original-consultation-title">Original consultation</h2> </header> <section class="app-c-banner app-c-banner--aside" aria-label="Notice" lang="en"> <h2 class="app-c-banner__title">Summary</h2> <p class="app-c-banner__desc"> A consultation to determine the broad social and/or environmental purposes for dormant assets funding in England. </p> <p class="app-c-banner__desc"> This consultation ran from<br><span class="consultation-date"><time datetime="2022-07-16T00:00:00.000+01:00">16 July 2022</time> to <time datetime="2022-10-09T23:45:00.000+01:00">11:45pm on 9 October 2022</time></span> </p> </section> </section> <div class="consultation-description"> <h2 class="gem-c-heading gem-c-heading--font-size-27 gem-c-heading--mobile-top-margin">Consultation description</h2> <div class="gem-c-govspeak govuk-govspeak " data-module="govspeak"> <div class="govspeak"> <p>The government has launched a consultation to gather views on the broad social or environmental purposes of the English portion of dormant assets funding.</p> <p>The public consultation follows the passage of the Dormant Assets Act 2022 earlier this year, which expanded the Dormant Assets Scheme into a wider range of sectors. The expansion potentially unlocks around £880 million for good causes across the UK, £738 million of which will be made available for England over time.</p> <p>In the context of recovery from the COVID-19 pandemic and pressures on the cost of living, the government is inviting input on how the Scheme can deliver the greatest impact in England over the coming years. The consultation will inform what broad social and/or environmental causes should be prescribed in future secondary legislation. It invites specific views on four causes – youth, financial inclusion, social investment, and community wealth funds – and welcomes suggestions for any other social or environmental causes that the government should consider. We are particularly interested in hearing from local communities, current and potential participants, civil society organisations, and any interested individuals.</p> <div class="call-to-action"> <p>Please respond to the consultation by completing the below online survey:</p> <p><a class="gem-c-button govuk-button govuk-button--start" role="button" data-module="govuk-button" draggable="false" href="http://web.archive.org/web/20230308101642/https://www.surveymonkey.com/r/dormant-assets-consultation"> Start survey <svg class="govuk-button__start-icon govuk-!-display-none-print" xmlns="http://www.w3.org/2000/svg" width="17.5" height="19" viewbox="0 0 33 40" focusable="false" aria-hidden="true"><path fill="currentColor" d="M0 0h13l20 20-20 20H0l20-20z"></path></svg></a></p> <p>Please respond before <strong>23:45 on Sunday 9 October 2022</strong>.</p> <p>Alternatively, you can respond by completing the response sheet and emailing it to <a href="http://web.archive.org/web/20230308101642/mailto:dormantassetsconsultation@almaeconomics.com" class="govuk-link">dormantassetsconsultation@almaeconomics.com</a>.</p> </div> </div> </div> <section id="documents"> <h2 class="gem-c-heading gem-c-heading--font-size-27 gem-c-heading--mobile-top-margin">Documents</h2> <div class="gem-c-govspeak govuk-govspeak direction-ltr" data-module="govspeak"> <section class="attachment embedded" id="attachment_7207808"> <div class="attachment-thumb"> <a aria-hidden="true" class="thumbnail" tabindex="-1" href="/web/20230308101642/https://www.gov.uk/government/consultations/consultation-on-the-english-portion-of-dormant-assets-funding/consultation-on-the-english-portion-of-dormant-assets-funding"><svg version="1.1" viewbox="0 0 99 140" width="99" height="140" aria-hidden="true"> <path d="M30,95h57v9H30V95z M30,77v9h39v-9H30z M30,122h48v-9H30V122z M12,68h9v-9h-9V68z M12,104h9v-9h-9V104z M12,86h9v-9h-9V86z M12,122h9v-9h-9V122z M87,12v27H12V12H87z M33,17h-4v8h-6v-8h-4v18h4v-7l6,0v7l4,0V17z M49,17H35l0,3h5v15h4V20l5,0V17z M68,17h-4 l-5,6l-5-6h-4v18h4l0-12l5,6l5-6l0,12h4V17z M81,32h-6V17h-4v18h10V32z M30,68h57v-9H30V68z" stroke-width="0"></path> </svg> </a> </div> <div class="attachment-details"> <h3 class="title govuk-!-font-size-27 govuk-!-font-weight-regular"><a class="govuk-link" href="/web/20230308101642/https://www.gov.uk/government/consultations/consultation-on-the-english-portion-of-dormant-assets-funding/consultation-on-the-english-portion-of-dormant-assets-funding">Consultation on the English portion of dormant assets funding</a></h3> <p class="govuk-body metadata"> <span class="type">HTML</span> </p> </div> </section><section class="attachment embedded" id="attachment_7207809"> <div class="attachment-thumb"> <a aria-hidden="true" class="thumbnail" tabindex="-1" 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"http://web.archive.org/web/20230308101642/https://www.gov.uk/government/consultations/consultation-on-the-english-portion-of-dormant-assets-funding" }, "name": "Consultation on the English portion of dormant assets funding", "datePublished": "2022-07-15T23:00:03.000+00:00", "dateModified": "2023-03-07T00:15:05.000+00:00", "text": "A consultation to determine the broad social and/or environmental purposes for dormant assets funding in England. ", "publisher": { "@type": "Organization", "name": "GOV.UK", "url": "http://web.archive.org/web/20230308101642/https://www.gov.uk", "logo": { "@type": "ImageObject", "url": "http://web.archive.org/web/20230308101642/https://www.gov.uk/assets/government-frontend/govuk_publishing_components/govuk-logo-73b5a4056ffe9988d02c728b56fe9fe7f90bb822322a5f6183ccbb92a99b019a.png" } }, "image": [ "http://web.archive.org/web/20230308101642/https://www.gov.uk/assets/government-frontend/govuk_publishing_components/govuk-schema-placeholder-1x1-bf9e64d759af6dfd93bede8168f3087a329f405b382aff36747db0db4b7b23e9.png", "http://web.archive.org/web/20230308101642/https://www.gov.uk/assets/government-frontend/govuk_publishing_components/govuk-schema-placeholder-4x3-13093f053c15f613acd827aff27cac83d3fab452947cbcae4c7b706dadf2f7f2.png", "http://web.archive.org/web/20230308101642/https://www.gov.uk/assets/government-frontend/govuk_publishing_components/govuk-schema-placeholder-16x9-4233cd42671827e266e284c4d5ae68fb600bd9f9e35dda663ccabbc2b6ab7ec3.png" ], "author": { "@type": "Organization", "name": "Department for Culture, Media and Sport", "url": "http://web.archive.org/web/20230308101642/https://www.gov.uk/government/organisations/department-for-culture-media-and-sport" }, "about": [ { "@context": "http://web.archive.org/web/20230308101642/http://schema.org", "@type": "Thing", "sameAs": "http://web.archive.org/web/20230308101642/https://www.gov.uk/society-and-culture/charities-honours" }, { "@context": "http://web.archive.org/web/20230308101642/http://schema.org", "@type": "Thing", "sameAs": "http://web.archive.org/web/20230308101642/https://www.gov.uk/society-and-culture/national-lottery-funding" }, { "@context": "http://web.archive.org/web/20230308101642/http://schema.org", "@type": "Thing", "sameAs": "http://web.archive.org/web/20230308101642/https://www.gov.uk/society-and-culture/young-people" } ], "headLine": "Consultation on the English portion of dormant assets funding", "description": "A consultation to determine the broad social and/or environmental purposes for dormant assets funding in England. ", "articleBody": "\u003cdiv class=\"govspeak\"\u003e\u003cp\u003eThe government has launched a consultation to gather views on the broad social or environmental purposes of the English portion of dormant assets funding.\u003c/p\u003e\n\n\u003cp\u003eThe public consultation follows the passage of the Dormant Assets Act 2022 earlier this year, which expanded the Dormant Assets Scheme into a wider range of sectors. The expansion potentially unlocks around £880 million for good causes across the UK, £738 million of which will be made available for England over time.\u003c/p\u003e\n\n\u003cp\u003eIn the context of recovery from the COVID-19 pandemic and pressures on the cost of living, the government is inviting input on how the Scheme can deliver the greatest impact in England over the coming years. The consultation will inform what broad social and/or environmental causes should be prescribed in future secondary legislation. It invites specific views on four causes – youth, financial inclusion, social investment, and community wealth funds – and welcomes suggestions for any other social or environmental causes that the government should consider. We are particularly interested in hearing from local communities, current and potential participants, civil society organisations, and any interested individuals.\u003c/p\u003e\n\n\u003cdiv class=\"call-to-action\"\u003e\n\u003cp\u003ePlease respond to the consultation by completing the below online survey:\u003c/p\u003e\n\n\u003cp\u003e\u003ca class=\"gem-c-button govuk-button govuk-button--start\" role=\"button\" data-module=\"govuk-button\" draggable=\"false\" href=\"https://www.surveymonkey.com/r/dormant-assets-consultation\"\u003e Start survey \u003csvg class=\"govuk-button__start-icon govuk-!-display-none-print\" xmlns=\"http://www.w3.org/2000/svg\" width=\"17.5\" height=\"19\" viewbox=\"0 0 33 40\" focusable=\"false\" aria-hidden=\"true\"\u003e\u003cpath fill=\"currentColor\" d=\"M0 0h13l20 20-20 20H0l20-20z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c/a\u003e\u003c/p\u003e\n\n\u003cp\u003ePlease respond before \u003cstrong\u003e23:45 on Sunday 9 October 2022\u003c/strong\u003e.\u003c/p\u003e\n\n\u003cp\u003eAlternatively, you can respond by completing the response sheet and emailing it to \u003ca href=\"mailto:dormantassetsconsultation@almaeconomics.com\" class=\"govuk-link\"\u003edormantassetsconsultation@almaeconomics.com\u003c/a\u003e.\u003c/p\u003e\n\u003c/div\u003e\n\u003c/div\u003e" } </script><script type="application/ld+json"> { "@context": "http://web.archive.org/web/20230308101642/http://schema.org", "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "item": { "name": "Home", "@id": "http://web.archive.org/web/20230308101642/https://www.gov.uk/" } }, { "@type": "ListItem", "position": 2, "item": { "name": "Society and culture", "@id": "http://web.archive.org/web/20230308101642/https://www.gov.uk/society-and-culture" } }, { "@type": "ListItem", "position": 3, "item": { "name": "Charities, volunteering and honours", "@id": "http://web.archive.org/web/20230308101642/https://www.gov.uk/society-and-culture/charities-honours" } } ] } </script> </body> </html>

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