Government expands dormant assets scheme
Released 09 January 2021
The Government has announced plans to expand the dormant assets scheme, which it believes will help unlock over £800 million for communities across the UK.
Since 2011, 30 banks and building societies participating in the current scheme have enabled the release of over £745 million from dormant accounts that have been inactive for at least 15 years. These funds have been used to support a range of social and environmental initiatives across the UK.
Further information can be found in the Government press release.