Unclaimed cash for social projects

David Cameron is to use unclaimed savings to fund community projects under his Big Society plan
12 April 2012

David Cameron is to set out plans to use hundreds of millions of pounds stuck in unclaimed bank accounts to fund social projects in a bid to kick-start his "Big Society" project.

The Prime Minister will use a visit to the North West of England on Monday to give more details of his aim to involve more social enterprises, charities and community groups in providing local services.

Among measures is the creation of a "Big Society Bank" which will provide start-up loans for local initiatives using cash from dormant accounts - thought to total around £400 million.

It is based on legislation passed by Labour allowing money untouched for 15 years to be diverted to good causes if the account holders cannot be traced by banks.

Mr Cameron will hope putting flesh on the bones of his "Big Society" philosophy will help quell criticism that it has failed to resonate with the public.

One poll this week found that more than one in three voters (37%) had not heard of it, despite the Tory leader making it a key theme of the party's General Election campaign.

But the same survey, by YouGov, suggested people liked the idea when it was explained to them - 44% being in favour of it and only 16% against.

The PM declared last month that he wanted an increase in community work and social enterprise to be one of the "great legacies" of the coalition Government.

Other elements of the project include a National Citizen Service for 16-year-olds and a US-style "neighbourhood army" of professional organisers to encourage involvement.

The North West is one of several key regions to be targeted in the initial stages of the project, Mr Cameron will announce in a speech. Teams of civil servants are to be dispatched from Whitehall to give advice to local people facing bureaucratic hurdles to setting up schemes such as youth clubs.

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