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1128528

	registered interest
	date	23/05/2019
	answering body	Department for Digital, Culture, Media and Sport
	answering dept id	10
	answering dept short name	Digital, Culture, Media and Sport
	answering dept sort name	Digital, Culture, Media and Sport
	hansard heading	Civil Society: Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Digital, Culture, Media and Sport, how the Government plans to allocate the £2 billion of dormant assets identified by the Dormant Assets Commission in March 2019 throughout the charity and voluntary sector; and if the Government will allocate those assets to the establishment of a community wealth fund.
	tabling member constituency	Morecambe and Lunesdale
	tabling member printed	David Morris
	uin	257745
	answer	answer is ministerial correction date of answer 05/06/2019 answer text <p>Following the independent Dormant Assets Commission’s report and findings, an industry blueprint for expanding the scheme was published in April 2019, setting out a long-term plan for how additional dormant assets could be included.</p><p> </p><p>We are working proactively with industry partners to enable this expansion that could see hundreds of millions of additional funds being released to good causes. Under the current legislation, this money can only be used to fund initiatives relating to youth, financial inclusion or via a social investment wholesaler. We are proud of our impact to date in these areas, which has created more than 26,000 jobs and training opportunities and helped more than 2,000 vulnerable individuals into suitable housing.</p> answering member constituency Eastleigh answering member printed Mims Davies question first answered 05/06/2019 16:14:27 answering member 4513 label Biography information for Mims Davies
	tabling member	4135 label Biography information for David Morris

1111214

	registered interest
	date	10/04/2019
	answering body	Department for Digital, Culture, Media and Sport
	answering dept id	10
	answering dept short name	Digital, Culture, Media and Sport
	answering dept sort name	Digital, Culture, Media and Sport
	hansard heading	Civil Society: Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Digital, Culture, Media and Sport, pursuant to the Answer of 10 April 2019 to Question 241433, whether he plans to estimate the remaining dormant assets with the potential to be made available for the civil society sector.
	tabling member constituency	Croydon North
	tabling member printed	Mr Steve Reed
	uin	243462
	answer	answer is ministerial correction date of answer 23/04/2019 answer text <p>Since the Dormant Assets Commission reported on the feasibility of expanding the dormant assets scheme in 2017, industry has been leading the preparations for scheme expansion. In their April 2019 report, industry leaders identified quantifying dormancy as an action for sectors.</p><p> </p><p>Participation in the dormant assets scheme is and will remain voluntary. While HMT and DCMS will continue to play a supporting and convening role, the success of the scheme depends on firms’ commitment to channelling dormant assets to good causes.</p> answering member constituency Eastleigh answering member printed Mims Davies question first answered 23/04/2019 14:31:03 answering member 4513 label Biography information for Mims Davies
	tabling member	4268 label Biography information for Steve Reed

1109928

	registered interest
	date	05/04/2019
	answering body	Department for Digital, Culture, Media and Sport
	answering dept id	10
	answering dept short name	Digital, Culture, Media and Sport
	answering dept sort name	Digital, Culture, Media and Sport
	hansard heading	Civil Society: Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Digital, Culture, Media and Sport, if he has made an estimate of funds that will be made available to the civil society sector under the Dormant Assets Scheme.
	tabling member constituency	Croydon North
	tabling member printed	Mr Steve Reed
	uin	241433
	answer	answer is ministerial correction date of answer 10/04/2019 answer text <p>The dormant assets scheme has already distributed over £600m for the benefit of good causes. The Dormant Assets Commission, which reported on the feasibility of expanding the scheme in 2017, estimated that there may be up to £2bn of additional dormant assets that could be transferred into the scheme. This could significantly increase the quantity of funds available for good causes across the country.</p><p> </p><p>Building on the work of the Commission, and supported by HMT and DCMS, four senior industry leaders published a blueprint in April 2019 for broadening the scheme to include assets from the insurance and pensions, investment and wealth management, and securities sectors. Quantifying dormancy was not within the scope of this work.</p> answering member constituency Eastleigh answering member printed Mims Davies question first answered 10/04/2019 15:13:55 answering member 4513 label Biography information for Mims Davies
	tabling member	4268 label Biography information for Steve Reed