The body investigating how hundreds of millions of pounds lying in dormant bank accounts can be spent has given strong support to investing the money in services for young people.

The Commission for Unclaimed Assets is conducting a report that is expected to heavily influence the Treasury's plans to use unclaimed assets to fund good causes.

Its interim report, published last week, recommends that the money should be spent helping the most disadvantaged communities in our society.

Toby Eccles, a member of the secretariat of the commission, said: "Young people presented the biggest opportunity of breaking a cycle of deprivation."

Dormant accounts are those that have not been touched for 15 years or more. The pot of money would grow annually.

John Bateman, chief executive of UK Youth, said: "The report seems to look very encouraging."

The commission is consulting on its interim findings, and is due to publish its final report ahead of the 2007 Budget, outlining in more detail how the technical aspects of the scheme could work. Further announcements are expected in the pre-Budget report and Budget.

www.unclaimedassets.org.uk.