MINISTERS have taken £330million from dormant bank and building society accounts to help the homeless and needy.

If money is left untouched for 15 years, since 2008 it can legally be taken by the government for good means.

3 The proceeds from the bank raids will be used to help the homeless Credit: Alamy

Around £280million will be allocated across England to help disadvantaged kids into work, provide housing for families and vulnerable people and tackle problem debt.

And £135million will be used by Whitehall spending arm Big Society Capital to fund accommodation for homeless people and those suffering with mental health problems.

Another £90million will be used to help disadvantaged youngsters into jobs, and £55 million is to go on “financial inclusion initiatives” such as tackling problem debt.

Civil Society Minister Tracey Crouch told The Sun: “This is part of the Government’s commitment to building a fairer society and tackling the social injustices that hold people back from achieving their full potential.

3 Bank and building society accounts that have been unused for 15 years will be raided Credit: PA:Press Association

3 Civil Society Minister Tracey Crouch says the move will help to tackle social injustice Credit: PA:Press Association

“By unlocking millions of pounds from dormant accounts for a range of good causes, we can make a real difference to lives and communities across the country.”

The minister said she was grateful to the financial institutions involved in the Dormant Accounts Scheme.

Since the initiative was established in 2008, almost £1 billion has been identified, and more than £360 million has been distributed to good causes.

Girl, 9, spends her birthday money buying soup and hot drinks for homeless

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The latest allocation of £330million is set to come from dormant accounts over the next four years, the Department for Digital, Culture, Media and Sport said.

Reclaim Fund Ltd, who run the scheme, said: “We are delighted that this release will bring the total distributed from Reclaim Fund to Big Lottery Fund to more than £500million in the first six years of the scheme.”

Boss Adrian Smith said: “We will continue to work hard in ensuring that consumers can at any time reclaim money owed from their dormant accounts while working with the government to deliver further funds for good causes.”