1,000 charities submit views on unclaimed assets

The Commission on Unclaimed Assets has received more than a thousand replies to its proposal to create a social investment bank and will publish a report of its findings by the end of the month, according to its chairman.

Sir Ronald Cohen, chair of the commission since it was set up in 2005, told Third Sector: "We have had meetings with leaders of large voluntary sector groups and we have tried to distil their conclusions to identify where the demand for finance exists. We are trying to show how this finance could flow into the sector."

However, Cohen played down recent speculation that the Government was planning to hand over at least half of the £400m assets to the Big Lottery Fund as compensation for money that could be used to pay for the London Olympics in 2012.

"Some things we have heard suggest that this was a storm in a teacup," he said. "We are just keeping our head down and trying to put our report out. We can define what the social investment bank would look like, and we are trying to show that it is a deserving application for the assets money."

Meanwhile, Treasury proposals to release a consultation document on the use of the dormant funds appear to have been shelved.

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