More than £76 million tied up in forgotten accounts is being unlocked to help with the cost of living crisis.
The Department for Culture, Media and Sport said that the cash will support people to get out of debt and assist social enterprises with innovative energy saving solutions. The cash will be collected through the Dormant Assets Scheme, which unlocks money from forgotten bank and building society accounts when it is not possible to reunite people with their lost money.
Beneficiaries include no-interest loans for 69,000 individuals struggling with finances via a £45 million grant distributed by Fair4All Finance. Hundreds of charities and social enterprises which will receive support from a pot of £31 million, distributed by social investors Access and Big Society Capital.
