Scotland won't give dormant accounts cash to Big Society Bank

Despite plea from Cabinet Office minister Francis Maude, Holyrood has said it will use the money for work in the community

Scottish parliament
Scottish parliament

The Scottish government has confirmed it will not allocate its share of money from dormant bank accounts to the Big Society Bank, despite a call for it to do so from Francis Maude, the Minister for the Cabinet Office.

A spokesman for the Scottish government said the money it received would instead be used for "supporting children and young people, tackling health inequalities, bridging the gap between older and younger people, and supporting employment across Scottish communities".

It is unclear how much funding Scotland will receive from dormant accounts because the governments in Holyrood and Westminster are still consulting on how the money will be allocated.

Earlier this month, Francis Maude said that an estimated £400m likely to be made available to the Big Society Bank from dormant bank accounts in England would not be available to Scottish lenders, but £200m provided by four high-street banks would be.

He said during Cabinet Office questions that he hoped that devolved administrations "would be encouraged" to put their cash into the Big Society Bank.

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