Dormant Assets funding announced for the youth sector
06 June 2025
London Youth has welcomed the recent announcement from Lisa Nandy MP, Secretary of State at the Department for Culture, Media and Sport (DCMS), in support of young people and the youth sector. The £132.5 million earmarked for the youth sector forms part of the wider four-year Dormant Assets Strategy.
This includes the previously announced £15 million Building Futures programme, launched under the previous government in September 2023 and delivered by the Youth Futures Foundation. The remainder of the funding will be distributed by The National Lottery Community Fund (TNLCF), with further details to follow.
The Dormant Assets Scheme repurposes money from long-unclaimed financial products for public benefit. Alongside our partners, we have been making the case for this funding to support grassroots youth organisations and reach young people who are too often underserved.
In November 2024, DCMS announced £100 million from Dormant Assets in support of a new National Youth Strategy. We set out the scope of this funding in an earlier article. This week’s announcement builds on that, providing an additional £30 million to help disadvantaged young people access enrichment activities.
As London’s leading youth infrastructure body, we know our members are trusted youth workers supporting young people who are underserved and often out of reach of statutory support. We strongly support DCMS’s recognition that every young person deserves equal access to activities in arts, culture and sport, regardless of their background or postcode.
Breakdown of Dormant Assets allocation:
- £132.5 million for young people – supporting services, facilities and opportunities to provide them with the skills and resources needed to succeed.
- £132.5 million for financial inclusion and education – equipping individuals with the tools and knowledge to build financial security.
- £87.5 million for community wealth funds – empowering local people to make decisions about their communities, creating stronger neighbourhoods
- £87.5 million for social investment – strengthening the financial resilience of the voluntary sector, including £12.5 million reaching organisations that support youth outcomes.
Pauline Daniyan, Chief Executive of London Youth, responded:
We welcome the Government’s renewed focus on community youth work. London’s dedicated youth workforce provides a lifeline for young people, improving their wellbeing, life skills and future prospects. Yet with scant resources, their own future employment is in serious jeopardy.
As the next Spending Review approaches, we urge ministers to join forces in securing the long-term financial framework needed to underpin quality youth work provision and ensure all young people can access quality support.
Read more in the Government’s press release
