This Writer has a savings account that hasn’t been touched for at least 15 years, I feel sure. I haven’t had any money to deposit in it!

That doesn’t mean I don’t want it.

I wonder how the Conservative Government will gauge whether the owners of accounts cannot be traced.

Will they ask the DWP to supply its letter-delivering services to the financial institutions tasked with tracing us? If so, it seems likely the letters will not arrive until weeks after the contents of our accounts have been seized.

And will any high-value bank accounts be among those seized? Or will their owners – or their next-of-kin – be on Conservative Party members’ speed-dials?

This just seems like a cash grab from the poor – disguised as a good deed. I would like to support it but the Tories cannot be trusted to do anything other than betray the British people.

Hundreds of millions of pounds will be seized from dormant bank accounts and used to tackle homelessness and help disadvantaged young people, a Government minister has said. Up to £330m will be made available from bank and building society accounts across the country that have remained untouched for at least 15 years and where the holder cannot be traced by a financial institution. Tracey Crouch, the minister for sport and civil society, said that housing initiatives aimed at homeless and vulnerable people, social enterprises and local charities will receive around £135m across England over the course of the next four years. In the latest allocation, a further £90m will be used to help disadvantaged young people into jobs, and £55m is to go on “financial inclusion initiatives” such as tackling problem debt. Up to £50m will also be distributed by the devolved administrations in Scotland, Wales and Northern Ireland.

Source: Government to give millions from dormant bank accounts to homelessness schemes | The Independent

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