Lords bid to boost social investment

By Helen Warrell, Third Sector, 23 January 2008

Conservative and Liberal Democrat peers are planning an amendment to the Government's bill on the use of dormant assets that would see funding divided equally between the proposed Social Investment Bank, which would fund voluntary groups, and the funding of youth facilities.

As the bill stands, youth services are listed as the first recipient of the estimated £350m of unclaimed funds from banks and building societies. Financial inclusion projects are second and the "social investment wholesaler" is third in line. But Lord Hamilton, a Conservative peer, told Third Sector that he is...