AQW 4020/17-22

Ms Kellie Armstrong
Alliance Party
Strangford

Tabled Date: 06/05/2020
Answered On Date: 11/05/2020
Priority Written: No

Question:
To ask the Minister of Finance (i) for an update on Dormant Accounts; (ii) how much money has been identified through the scheme; and (iii) what plans he has to ensure that this money is used effectively by social economy and the community and voluntary sector.

Answer:

The Dormant Accounts Fund now totals £20.5 million. The Fund will be used to support third sector organisations as they emerge from the COVID-19 crisis in line with the themes of resilience, capacity and sustainability as originally identified.

In September 2019, the Department of Finance, directed the National Lottery Community Fund (NLCF), to establish a Dormant Accounts Scheme. The NLCF has consulted with Stakeholders to inform a Strategic Plan which will set out how this money is used effectively by social economy and the community and voluntary sector.

Alongside its work as part of the COVID-19 response, the Lottery is continuing to develop its Strategic Plan, which will be laid by my Department in the Assembly in due course, with the Fund open to applications thereafter.