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Dormant Assets Scheme

Question for Department for Digital, Culture, Media and Sport

UIN 911829, tabled on 4 February 2021

What steps he is taking to allocate to good causes the dormant assets identified by the Dormant Assets Scheme.

Answered on

4 February 2021

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.

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