June 4, 2008
£40m windfall expected from dormant accounts
What if Scotland’s 20 poorest communities were to receive an endowment of £2m each – giving them a permanent income of around £100k per annum? This is the bold suggestion being proposed for the allocation of Scotland’s share of dormant accounts windfall
The Scottish Government has begun its consultation process on the priorities for deploying the funds to be collected from Dormant Bank Accounts. The sums available may be as much as £40 million in the first year and about £4 million year on year thereafter. The money will be distributed by the Big Lottery Fund. The first stage of the process, an initial scoping seminar, was held last week. The seminar, hosted by SCVO, sought broad views on potential priorities and highlighted key themes and issues. Participants included Big Lottery Fund (BIG), national umbrella and intermediary bodies and the voluntary sector networks. The event gave shape to the themes for discussion in the second stage of the process which will comprise a series of public events, an on-line web survey and a consultation exercise. Full details of the public events will be announced shortly.
Contact: Carol Elder (carol.elder@scotland.gsi.gov.uk)