The Department of Finance and Personnel is seeking views on the development of the draft Northern Ireland spending priorities and the underpinning policy directions for the Dormant Bank and Building Society Accounts Scheme. A 'dormant bank account' is a bank or building society account which a customer has not asked about, put money into or taken money out of for at least 15 years.
It is estimated that there will be in the region of £10 million to £20 million available in the first year of the scheme with an anticipated several hundred thousand pounds available each year thereafter.
The consultation's aim is to establish spending priorities to specifically address the needs of the people of Northern Ireland and asks for input on a number of questions, including:
- are there particular areas or issues that would benefit from the funds?
- are there particular groups of individuals or organisations that should be targeted?
- should disadvantaged areas in particular be targeted?
The consultation paper is available to download from DFP's website and responses should be submitted by 29 October 2009.