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<p>The distribution of dormant assets is a devolved matter, and in England, dormant
assets spend is currently restricted by legislation to three areas, including financial
inclusion. To date, in England, we have invested £96 million of dormant assets in
financial inclusion, delivered by an independent organisation (Fair4All Finance) who
have focused on building financial resilience through better access to affordable
credit.</p><p><strong> </strong></p><p>The purpose of the Dormant Assets Bill, which
has recently been introduced to parliament, is to expand the Scheme and amends the
approach to restrictions in England to mirror the model used for the devolved administrations.
This will allow the government to consult on, and respond more flexibly to, changing
social and environmental needs in England over time.</p><p><strong> </strong></p><p>Subject
to this measure passing, the Government is committed to launching a public consultation
to give people a say in how future funds are spent in England.</p><p><strong> </strong></p><p>The
funding unlocked through Scheme expansion will consist of all eligible dormant assets
in scope of the Scheme and will not be differentiated by sector or asset class.</p><p>
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