Currently, funding available under the Dormant Assets Scheme must be spent on the causes of youth, financial inclusion and social investment.
The consultation has been opened in the context of the social pressures of continued recovery from the COVID-19 pandemic and the cost of living crisis, as the government wishes to consider how the Dormant Assets Scheme can deliver the greatest impact in England in the future.
The consultation follows the passing of the Dormant Assets Act 2022 earlier this year, which expanded the Dormant Assets Scheme into a wider range of sectors, unlocking up to £738 million for use in England.
The consultation is open to responses until October 9th 2022.
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