The Welsh Government is consulting on the future spending purposes for dormant assets funding in Wales. The National Lottery Community Fund is conducting the consultation on behalf of The Welsh Government.
A dormant asset is a financial product, such as a bank account, that the customer has not used for many years, and which the provider has been unable to reunite with. The National Lottery Community Fund has been responsible for its distribution in Wales, which has totalled £28 million since the scheme was established in 2008.
The Welsh Government is proposing four potential options to consider: children and young people, the climate and nature emergencies, financial inclusion and community action. It is unlikely to be able to fund all four options and will need to prioritise.
The consultation will close on 28 February 2024. We invite you to respond. You can read the consultation and respond on The Welsh Government’s website.
The National Lottery Community Fund is hosting a series of information events for you to find out more. There will be an opportunity for you to ask questions and share your initial thoughts. The events will take place online on 9 and 10 of January.
You can register to attend the National Lottery Community Fund events here.
Later in 2024 they will also be hosting events focused on each of the four themes. This will be an opportunity for you to discuss and share your thoughts on how dormant asset funding can best support communities in Wales.
