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Funding: Dormant bank accounts could help fund services

1 min read

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."

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