First ever Dormant Assets Scheme Strategy unlocks £440 million funding for people and communities who need it most – redirecting money from long-unused accounts to important social causes

Money will get young people involved in music, drama and sport, plus give thousands of vulnerable households access to affordable loans, delivering opportunity through Plan for Change

The announcement by the Department for Culture, Media and Sport (DCMS) on Monday 2 June confirmed that £132.5 million will be invested to give young people in disadvantaged neighbourhoods new opportunities to take part in music, sport, and drama. The aim is to help them build skills for the future, improve their employment prospects, and ensure access to these opportunities is no longer limited to a privileged few.

Local charities and community groups will also get extra funding, so they can run projects like food banks, youth clubs, and community events. This support will help bring people together and tackle loneliness.

A further £132.5 million will be available to those in financially vulnerable circumstances, providing them with the affordable credit and support they need to manage their money. This will mean that people facing money worries will have a safety net for when things go wrong.