Scottish charities to get cash seized from banks

Cash

Scotland to get a fraction of £330m taken from unused bank accounts

Graham Martin's photo

5th January 2018 by Graham Martin 2 Comments

Good causes in Scotland are in line for a share of a £50 million pot of cash claimed from unused bank accounts.

The Westminster government’s Department for Digital, Culture, Media and Sport (DCMS) announced that the money will be distributed through the Big Lottery Fund.

It is part of £330m seized from accounts which have not been active for 15 years.

DCMS said £50m of this will be spend in Scotland, Wales and Northern Ireland, with the rest (£280m) will go to England.

It has not been announced how the £50m allocated to the devolved countries will be distributed, or to whom. Each administration will decide how the cash is spent.

DCMS said that overall the cash will be used to help the homeless, disadvantaged young people, local charities and other good causes over the next four years.

This is the latest tranche of cash to be given to the third sector from dormant accounts since the Labour government enacted the Dormant Bank and Building Society Accounts Act in 2008.

Tracey Crouch, minister for sport and civil society, said: “This money will tackle injustices that hold people back from achieving their true potential and help create a country that works for everyone to guarantee a better future for the next generation.

“I am incredibly grateful to the banks for their participation in the scheme and the work that has been carried out by the Reclaim Fund to free up these funds for good causes.”

Dawn Austwick, chief executive of the Big Lottery Fund, said: “The Dormant Bank and Building Society Accounts Act has made over half a billion pounds available for good causes in the UK. The Big Lottery Fund is proud to be the organisation which distributes these funds and we look forward to working with Government and others to do this.

“This funding will give people the opportunity to take the lead in making lasting and sustainable change in their lives and communities.”

5th January 2018 by Ruchir Shah

I understand the previous tranche of cash to devolved nations delivered by Big Lottery e.g. to Scotland was subject to devolved administrations' policy directions. I'm assuming this is the case, otherwise it would be a major policy shift?

5th January 2018 by Graham Martin

Yes, that's how I understand it - story has been amended slightly to make this clearer. Cheers.