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Plans for £165m of dormant assets funding

By August 9, 2018National News

From Civil Society

The government has announced it will unlock £20m of new money from dormant charitable trusts, to be given out in the sector, in today’s civil society strategy.

The strategy also includes plans to establish two new institutions to give away £145m of money from dormant bank accounts. That money will be spent on youth services and financial inclusion. It was originally announced last year, but the government has now provided more details on how it will be spent.

But there is no clarity about a much larger pool of money from dormant assets such as stocks, insurance and pensions, which is estimated to be worth £2bn, and is earmarked to be spent in the sector.

To read the rest of the article go to Civil Society

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