DCMS launches consultation on how to spend dormant assets

The Department for Digital, Culture, Media and Sport (DCMS) has launched a public consultation on what social and environmental causes should benefit from more than £700m of dormant assets funding in England.

Currently, dormant assets funding in England is required to be spent on three causes – youth, financial inclusion or social investment, but the government is reviewing whether these remain the right causes for where funding from dormant assets can be allocated.

One option under consideration for views is a community wealth fund proposal that would see pots of money distributed over long periods of time in local communities in England, with decisions made by residents to make a difference where it is most needed.

DCMS is welcoming response from members of the public, community groups, and industry stakeholders.

The consultation will close on Sunday 9 October.