Andrew McCully, director for supporting children and young people at the Department for Children, Schools and Families (DCSF), said that the financial crisis had delayed plans to set up an agency to oversee a fund to distribute money from dormant bank accounts and other unclaimed assets to good causes such as youth projects.
Speaking at the annual convention of the Confederation of Heads of Young People's Services (Chyps) yesterday, McCully said: "It is still the case that the agency that will establish the fund is not in place largely because the financial industry has had other things on its mind recently. But the legislation is firmly there and it states that money must be put forward to the youth sector."
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