Lottery Funds
The Big society bank and Scotland
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- Tuesday, 15 March 2011 17:09 Tamsin Morris Hits: 625
In a debate that seems to have being going on for months, it appears that the proposed Big society bank will be able to offer some limited loans to Scotland for social investment.
The Big society bank's funding will be made up of a mix of money from dormant bank accounts and investments from high street banks. The Scottish Government has confirmed that they plan to put Scotland's share of dormant bank account money into Scottish projects via the Big lottery fund, and that it will not be going into the Big society bank. That means that the money which the bank has from dormant bank accounts will be from English accounts only and will therefore only be available as loans to English organisations. However, the proportion of the money invested in the bank which is from high street banks will be available throughout the UK, including Scotland.
Confused? Suffice to say, the funding scene isn't about to get any simpler, but you can read the Scottish Council for Voluntary Organisations summary of the debate here.
