CAF COMMENT: RELEASE OF FUNDS FROM DORMANT ACCOUNTS

4 January 2018

Sir John Low, Chief Executive of the Charities Aid Foundation, said: “It’s good to see the Government pressing ahead with the latest release of funds from dormant accounts, and the focus on homelessness and housing is understandable given the acute nature of the problems in those areas currently. However, we should also remember that the Dormant assets Commission has held out the prospect of a much bigger prize with up to £2billion being held in dormant financial assets that could be harnessed to fund good causes, and it is vital that we ensure this new money is distributed strategically and effectively.

“We know Ministers are looking hard at this issue. They need to take the opportunity to release this once in a lifetime windfall to support strategic initiatives and interventions that could transform the whole not-for-profit sector in the years ahead.”