Facilities boost: Sector to reap windfall from dormant accounts

The Government has unveiled plans for what it describes as a "once in a generation" chance to improve services for young people.
Investment in youth facilities would be a legally defined priority for a several hundred million pound fund drawn from dormant bank accounts.

The consultation document, Unclaimed assets distribution mechanism, states that services for young people should be the main focus of these resources in England. The money would be invested in places to go.

Ed Miliband, minister for the third sector at the Cabinet Office, said the investment would tie in with the Government's 10-year strategy for youth services, expected later this year.

"What is important is that we build on what is working," he told Young People Now. "The Youth Opportunity Fund and Youth Capital Fund are having a big and important impact."

At least £200m looks set to be released for youth facilities. An earlier consultation focused on how money from the accounts could be obtained (see p10).

This consultation proposes using the Big Lottery Fund network for distribution, although the money would be kept separate from lottery grants.