Question to the Department for Digital, Culture, Media & Sport:

To ask the Secretary of State for Culture, Media and Sport, with reference to the Government response to the consultation on the English portion of dormant assets funding, published on 7 March 2023, when she plans to bring forward secondary legislation to name community wealth funds as a cause that can be supported by the Dormant Assets Scheme in England.

The Government has recently announced that community wealth funds will become the fourth cause for dormant assets funding in England. Secondary legislation to enable dormant assets funding to flow to community wealth funds will be introduced as soon as Parliamentary time allows.

A community wealth fund will provide pots of funding to hyper-local communities, with spending decisions made by local residents on how to improve their communities and lives. The Government will soon launch a technical consultation on the design of this important new initiative and welcome views on how best to ensure its long-term impact.