12 Jan 2018
The UK government has announced it is releasing £330m from dormant accounts to projects that assist with housing vulnerable people and help disadvantaged young people into employment.
The money comes from bank and building society accounts that
have not been accessed for 15 years or more, and it will be
distributed over the next four years.
Up to £135m will be given to Big Society
Capital to give out as investment loans to fund
long-term secure accommodation for vulnerable people, and provide
support for local charities and social enterprises.
Approximately £90m will go to projects that help
disadvantaged young people into work - using initiatives designed
with young people by the Department for Digital, Culture, Media and
Sport (DCMS), the Big Lottery Fund and the Department for
A further £55m will support financial inclusion
initiatives to improve access to financial services and help people
tackle debt problems.
The leftover £50m will be distributed by the Big Lottery
Fund to good causes in Scotland, Wales and Northern Ireland. A
spokesperson for the DCMS said that there will be announcements on
how charities and social enterprises could apply for funding