PARLIAMENTARY WRITTEN QUESTION
Dormant Assets Scheme (4 February 2021)
Question Asked
What steps he is taking to allocate to good causes the dormant assets identified by the Dormant Assets Scheme.
Asked by:
David Simmonds (Conservative)
Asked by:
David Simmonds (Conservative)
Answer
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.
Answered by:
Matt Warman (Conservative)
4 February 2021
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