The Department for Digital, Culture, Media and Sport has announced that £44 million from the Dormant Assets Scheme will be used to fund charities and social enterprises to help tackle youth unemployment, support communities in deprived areas and give people in need access to finance. The Dormant Assets Scheme releases funds from dormant bank and building society accounts, which are accounts that have been open for 15 years, but during that period no transactions have been carried out. The funding will be distributed by The National Lottery Community Fund and includes £20 million to the Youth Futures Foundation to break down barriers and improve access to employment for disadvantaged young people.
