Last week the government announced – or was it re-announced? – that it was unlocking £330m from dormant accounts, with the Big Lottery Fund and Big Society Capital distributing cash to initiatives tackling many social challenges. It announced that these funds would address a range of issues including the housing of vulnerable people, helping disadvantaged young people into work and dealing with problem debt. It claims that by 2020 the total distribution from dormant accounts to good causes will reach over half a billion pounds. This is not a new policy and indeed the original idea was one championed by Gordon Brown as far back as 2005 when he was chancellor and commissioned Sir Ronnie Cohen to report on how these funds could be used for social purposes. The Labour government then legislated to facilitate this in 2008. The coalition government sought to use the concept to fund part of its … (To read the full article, subscribe below)
John Tizard is an independent strategic advisor and commentator on public policy and services. He is a former council leader and was director of the Centre for Public Service Partnerships.
Subscribe to New Start
Full access to all New Start content is just £49 + VAT per year (25% discount for group subscriptions of 5 or more subscribers)