Hundreds of millions of pounds will be seized from dormant bank accounts and used to tackle homelessness and help disadvantaged young people, a Government minister has said.
Up to £330m will be made available from bank and building society accounts across the country that have remained untouched for at least 15 years and where the holder cannot be traced by a financial institution.
Tracey Crouch, the minister for sport and civil society, said that housing initiatives aimed at homeless and vulnerable people, social enterprises and local charities will receive around £135m across England over the course of the next four years.
I don’t care who they are giving it to, nor how much they might think it a good cause. It isn’t their money and taking it is theft, pure and simple. These Tories are no different to the scum on the opposite benches.
They don’t even try to disguise their stealing these days, do they? Oh for a latter-day Wat Tyler.
the minister for sport and civil society? WTAF?
Precisely
Thanks for the tip. I have two dormant accounts which have 1 Penny in each. I’m not too worried but I’ll move some cash around just in case…………….
I’ll get my grandfather to step up dealing with my grandmother’s estate, just in case.
15 years isn’t that long in the grand scheme of things. If they can’t find the holder, it’s probably because they haven’t made the effort.
They’ve been using interest from dormant accounts to give to charities for several years now. At 0.5% it still comes to about 37 million and I understand a big chunk of that goes to the Lottery for them to splash about for “worthy” causes.
https://www.theguardian.com/money/shortcuts/2012/apr/04/dormant-accounts-big-society-capital
It robs Pete to pay Paul and is one of many reasons why our banking system seems constipated. In days gone by interest from funds left in current accounts were used to write off non performing loans. Dormant savings accounts were not touched and interest was set aside just in case.
This takes it one step further and is as you say pure theft, partly because they seem incapable of culling the freeloaders, aka fake charities as well as their pledges to transnationals like UN, WHO, NATO “commitments”.
It rankles, both of them, but worse is it’s our money and we have no say whatsoever in how it’s allocated. That’s left to the elites – and those swine are unaccountable. For the moment at least.
*wonders where he can get a mangy dog on a string and if he has an empty cardboard box he can work into a ‘Homeless & Hunger sign*
Didn’t the Brown Gorgon have this idea a few years ago? I withdrew all the money and closed one of my very ancient accounts to stop him getting his greedy Scottish paws on it so that he and his friends could p*ss it up the wall! So now the Tories are trying the same wheeze are they? Thieving scumbags/
I suppose that it is too much to hope that a rush to the banks by people who want to ensure that even trivial amounts of money are kept away from their thieving fingers will make them think again.
“untouched for at least 15 years”
Probably 15 years initially. Then 14 years then 13 years, until, “you’ve still got money in your account at the end of the month, you obviously don’t need it … “
So much for my savings account to fund my next visit to Milliways.