The government has been accused of sitting on almost £2.5bn-worth of assets that have been earmarked for good causes and charities, many of which face an uncertain future as funding streams start to dry up. The government has also declined to say what it intends to do with the lion’s share of the assets, currently sitting in dormant bank accounts, share portfolios and bond holdings. In March, the Dormant Assets Commission said in its final report that it had identified some £2bn of unclaimed cash that could be freed up and distributed to good causes. “It would support at least 42,000 mostly local, grassroots charities and community groups,” Kennedy said. We are to publish our response to the Dormant Assets Commission report soon.”

Source: The Guardian December 30, 2017 12:33 UTC