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Oral question asked in the House of Lords, by Baroness Walmsley (Liberal Democrat). It was answered by Lord Myners (Labour) on Tuesday, 2 February 2010.


Banks: Dormant Accounts

Question
To ask Her Majesty’s Government how much money from dormant bank accounts has reached front-line youth services to date.
Answer

Although no money from the dormant account scheme has yet been released to any of the spending priorities, the 2009 PBR announced that the Co-operative Financial Services Group intends to submit an application to the FSA for authorisation to establish and administer the reclaim fund. If the work on this proceeds as planned, it is expected to be operational by mid-2010, which will enable funds to flow to the Big Lottery Fund and to spending priorities from that date.


Secondary information

Type
Oral question
Reference
717 c112 
Session
2009-10
Oral question type
Lead
Chamber / Committee
House of Lords chamber
Subjects
Bank services Finance Youth services Dormant assets scheme
Link
View this Oral question on www.publications.parliament.uk