Commission on Dormant Accounts

Commission on Dormant Accounts


 


From 2006, at least £1.5bn of dormant account funds will be channelled to communities. The figure may grow in time to be much larger than this.


In order to ensure that the most is made of this historic opportunity a Commission has been established to review how the money can be invested wisely so as to achieve a truly transformational impact.


 


Aims:


 


·         Draw on the best available evidence to support a review of the advantages of different options for investing dormant account funds


·         Promote open debate across the sectors and regions


·         Form conclusions on the best use of funds available


·         Build consensus amongst banks, the voluntary and community sectors and government on the best ways of disbursing dormant account funds


·         Be active in enabling cross-sector collaborations that can be capable of turning plans into action


 


Participants:


 


Jonathan Bland -Chief Executive, Social Enterprise Coalition


Professor Sir Robert Boyd -Chair Lloyds TSB Foundation


Hilary Brown –Director, Small Business Service -social enterprise lead role


David Carrington -Consultant


Clare Dove. Director, Blackburn House


Stephen Dunmore, Chief Executive of Big Lottery Fund


Fiona Ellis – Director. Northern Rock Foundation


Ben Hughes, Director, bassac


Jitinder Kohli, Director, Active Communities Directorate, Home Office


Lord Sandy Leitch -ex CEO of Zurich Finance, Chair Balance Foundation


Ed Mayo -Director, National Consumer Council


Sir Graham Melmoth, Chair N CVQ (ex CEO CWS)


Bernie Morgan -Chief Executive, Community Development Finance Association


Geoff Mulgan -Director, Young Foundation


Phil Mundy -Chair, Salford Money Line


Geraldine Peacock -Chair, Charity Commission


Nick Pearce -Director, IPPR


Matthew Pike -Secretary to Commission


John Rafferty -Director, unltd


Andrew Robinson / alternate -Nat West Bank, Royal Bank of Scotland


Pat Samuel -lead role on VCS in Treasury


Stephen Thake -Senior Adviser to Commission


Danielle Walker-Palmour- Director, Friends Provident Foundation


Andrea Westall, Deputy Director, New Economics Foundation


Peter Wheeler -Chair, Future Builders


 


Format


The process proposed will balance a very bottom-up process with a focus on relationship and consensus building across the sectors at an elite level. There are several key activities that will run in parallel:


 


·         three dinners over the autumn for the lead participants;


·         four working groups to look at evidence, market demand patterns, engagement


·         with the banks and an implementation group of agencies committed 10 work


·         together to deliver on the conclusions;


·         five thematic working groups with widely drawn participants;


·         twelve one day regional / national events co-ordinated by Scarman staff;


·         specially commissioned articles by a range of ‘visionaries’ on what it will take to


·         eliminate extreme relative poverty.


 


Outcomes


What change will the Commission produce?


 


There is an obvious opportunity to influence the use of a very large amount of money- as an absolute minimum the commission can help to avoid ineffective ‘scattering’ of the money by pooling knowledge;


The influence on money also provides a big opportunity to shift government policies in more progressive and effective directions;


New working relationships wilt be built across the sectors;


New capacity for joint delivery will be put in place;


The Commission is designed to be action focussed and do all it can to ensure that there is effective follow through.


The report will not sit on a shelf


 


Matthew Pike


June 16th 2005