Government considers introducing dormant assets scheme

The government's considering a scheme to take money from unused bank accounts, according to the Treasury Minister.

In Tynwald this week, Alf Cannan faced a question for written answer from Rushen MHK Juan Watterson about introducing a dormant assets scheme.

Under its own rules, the UK government can take money from accounts that have lain unused for 15 years and donate it to good causes.

Mr Cannan says although the Isle of Man doesn't have such a scheme, he's hoping to bring in new laws later this year allowing one to be set up.