The Big Lottery Fund is named in the Act as the distributor of dormant account money for meeting expenditure that has a social or environmental purpose in England, Scotland, Wales and Northern Ireland. Each devolved administration makes decisions on how these funds are used.<\/p>
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In England, all monies so far made available from dormant bank accounts have been allocated to Big Society Capital, the world\u2019s first social investment wholesaler. The Government established Big Society Trust to provide oversight of Big Society Capital and to ensure that this funding is spent effectively. In the devolved administrations, Big Lottery Fund plays this monitoring role.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4247", "label" : {"_value" : "Biography information for Lord Ashton of Hyde"} } , "answeringMemberPrinted" : {"_value" : "Lord Ashton of Hyde"} , "dateOfAnswer" : {"_value" : "2019-01-22", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "HL12754"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-01-22T16:59:57.343Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "10"} , "answeringDeptShortName" : {"_value" : "Digital, Culture, Media and Sport"} , "answeringDeptSortName" : {"_value" : "Digital, Culture, Media and Sport"} , "date" : {"_value" : "2019-01-10", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Bank Services"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government, further to the Written Answers by Lord Ashton of Hyde on 29 November 2018 (HL11578, HL11579, HL11580, and HL11581), whether it is HM Treasury\u2019s responsibility to monitor the use of funds from dormant bank accounts belonging to members of the public; and if not, whose responsibility it is.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3830", "label" : {"_value" : "Biography information for Lord Mawson"} } , "tablingMemberPrinted" : [{"_value" : "Lord Mawson"} ], "uin" : "HL12753"} , {"_about" : "http://data.parliament.uk/resources/1038917", "AnsweringBody" : [{"_value" : "Department for Digital, Culture, Media and Sport"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1038917/answer", "answerText" : {"_value" : "
The Big Lottery Fund is named in the Act as the distributor of dormant account money for meeting expenditure that has a social or environmental purpose in England, Scotland, Wales and Northern Ireland. Each devolved administration makes decisions on how these funds are used.<\/p>
<\/p>
In England, all monies so far made available from dormant bank accounts have been allocated to Big Society Capital, the world\u2019s first social investment wholesaler. The Government established Big Society Trust to provide oversight of Big Society Capital and to ensure that this funding is spent effectively. In the devolved administrations, Big Lottery Fund plays this monitoring role.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4247", "label" : {"_value" : "Biography information for Lord Ashton of Hyde"} } , "answeringMemberPrinted" : {"_value" : "Lord Ashton of Hyde"} , "dateOfAnswer" : {"_value" : "2019-01-22", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "HL12753"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-01-22T16:59:57.297Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "10"} , "answeringDeptShortName" : {"_value" : "Digital, Culture, Media and Sport"} , "answeringDeptSortName" : {"_value" : "Digital, Culture, Media and Sport"} , "date" : {"_value" : "2019-01-10", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Bank Services"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government what is their role in monitoring the effectiveness of systems and processes relating to spending money from dormant bank accounts belonging to members of the public.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3830", "label" : {"_value" : "Biography information for Lord Mawson"} } , "tablingMemberPrinted" : [{"_value" : "Lord Mawson"} ], "uin" : "HL12754"} , {"_about" : "http://data.parliament.uk/resources/1038919", "AnsweringBody" : [{"_value" : "Department for Digital, Culture, Media and Sport"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1038919/answer", "answerText" : {"_value" : "
The government collects no systematic evidence of the different rates of interest offered by social and commercial lenders. Interest rates cannot be compared in isolation. Interest rates applied by all investors, including independent social investment funds, are calculated based on credit assessments and reflect the risk presented by the individual organisations seeking investment and the costs of providing finance.<\/p>
<\/p>
We have received no complaints that recipients of social investment are being obligated to accept any investment offer they feel is not beneficial to them. Social investors in the financial and philanthropic sectors are regulated by the respective regulatory bodies to ensure compliance to standards.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4247", "label" : {"_value" : "Biography information for Lord Ashton of Hyde"} } , "answeringMemberPrinted" : {"_value" : "Lord Ashton of Hyde"} , "dateOfAnswer" : {"_value" : "2019-01-24", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "HL12757"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-01-24T12:26:55.387Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "10"} , "answeringDeptShortName" : {"_value" : "Digital, Culture, Media and Sport"} , "answeringDeptSortName" : {"_value" : "Digital, Culture, Media and Sport"} , "date" : {"_value" : "2019-01-10", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Social Enterprises: Investment"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government whether they have any evidence of social investment funds vehicles offering loans at higher interest rates than those offered by the commercial market.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3830", "label" : {"_value" : "Biography information for Lord Mawson"} } , "tablingMemberPrinted" : [{"_value" : "Lord Mawson"} ], "uin" : "HL12756"} ], "itemsPerPage" : 10, "page" : 0, "startIndex" : 1, "totalResults" : 3, "type" : ["http://purl.org/linked-data/api/vocab#ListEndpoint", "http://purl.org/linked-data/api/vocab#Page"]} }