Government Unlocks £330 Million from Dormant Bank Accounts for Good Causes (UK)

The UK Government’s Department for Digital, Culture, Media and Sport (DCMS) has announced that the Big Lottery Fund will be involved in the distribution of up to £300 million pounds released from dormant bank and building society accounts.

The money will be used to help the homeless, disadvantaged young people, local charities, social enterprises and other good causes over the next four years. Through Big Lottery, up to £50 million will be made available for good causes in Scotland, Wales and Northern Ireland with £280 million going to initiatives across England. The Big Lottery Fund will jointly design funding initiatives to distribute the cash with the DCMS and the Department for Education alongside input from young people. Included in the windfall is Big Society Capital which will benefit from up to £135 million to fund stable and long-term accommodation for vulnerable groups such as homeless people and those suffering with mental health issues.

Further information will be made available over the next few months on the Big Lottery website.

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