Dormant Assets Scheme

Department for Digital, Culture, Media and Sport written question – answered on 6th December 2021.

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Photo of Lucy Powell Lucy Powell Shadow Secretary of State for Digital, Culture, Media and Sport

To ask the Secretary of State for Digital, Culture, Media and Sport, how much funding has been distributed through the Dormant Assets scheme to each region in England.

Photo of Nigel Huddleston Nigel Huddleston The Parliamentary Under-Secretary of State for Digital, Culture, Media and Sport

The Secretary of State issues policy directions to The National Lottery Community Fund for the English portion of dormant assets funds. These directions are high-level and do not go into granular detail over, for example, specific regions where the money should be spent.

Currently, funding in England is distributed to four specialist organisations, independent from government, that work across the areas of youth, financial inclusion, and social investment. To date, over £650 million has been allocated between them: Youth Futures Foundation has been allocated £90 million, Fair4All Finance £96 million, Big Society Capital £425 million, and Access – The Foundation for Social Investment £40 million.

These organisations are responsible for determining the most appropriate way to deliver against their objectives. This includes the evidence-based geographical distribution of their work, and the collation of any associated data.

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