£800 Million In Dormant Assets Scheme

Last week, the Government announced a major expansion of the Dormant Assets Scheme to support the UK as it recovers from the coronavirus pandemic. The scheme, which allows banks and building societies to donate funds to good causes and charities from dormant accounts, will now include assets from the insurance and pensions, investment, wealth management, and securities sectors.

More than £800 million will be made available to continue supporting urgent work to tackle youth unemployment, expand access to emergency loans for civil society organisations and help improve the availability of fair, affordable credit to people in vulnerable circumstances.

This funding is in addition to the £150 million unlocked in May 2020 to help charities’ coronavirus response and recovery. Read more HERE.

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