UK Government consultation on beneficiaries of the £738m Dormant Assets Scheme

26 September 2022 | Applicable law: England and Wales

The Government has launched a public consultation on what causes in England should benefit from the over £700 million available in the Dormant Assets Scheme.

Currently, funding available under the Dormant Assets Scheme must be spent on the causes of youth, financial inclusion and social investment.

The consultation has been opened in the context of the social pressures of continued recovery from the COVID-19 pandemic and the cost of living crisis, as the government wishes to consider how the Dormant Assets Scheme can deliver the greatest impact in England in the future.

The consultation follows the passing of the Dormant Assets Act 2022 earlier this year, which expanded the Dormant Assets Scheme into a wider range of sectors, unlocking up to £738 million for use in England.

The consultation is open to responses until October 9th 2022.

This document (and any information accessed through links in this document) is provided for information purposes only and does not constitute legal advice. Professional legal advice should be obtained before taking or refraining from any action as a result of the contents of this document.


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