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England will use money from inactive accounts for more than 15 years against the crisis

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The government of England has announced that it will release about R $ 1 billion (£ 150 million) of inactive accounts to help businesses, charities and combat youth unemployment. The announcement was made on Wednesday (20) by the Secretary of Culture, Oliver Dowden, during a press conference on the crisis of the new coronavirus.

"We are releasing £ 150 million into inactive accounts to help social businesses obtain affordable credit for people who are financially vulnerable and to support charities that fight unemployment among young people," said the secretary.

According to Sky News, the money was confiscated in 2011 in a lawsuit where 30 companies voluntarily transferred funds from accounts that had been inactive for 15 years to then be used by the government for good causes.

According to the website, a total of £ 79 million has already been released and the government is accelerating to release the remaining £ 71 million.

The social companies that Dowden will indicate are institutions that have a social and environmental program and that act as non-profit entities.

"Our charities, large and small, are really at the forefront of the national effort to defeat the coronavirus," he added.

In 2011, the British government considered accounts inactive to be accounts that had been inactive for at least 15 years. Now they will be used as a type of ballast to help fight the pandemic.

The money will be added to the £ 750 million (about R $ 5 billion) in direct cash grants already announced by the government for charities.

Coronavirus in the UK

The UK government has already confirmed about 250,000 cases of Covid-19; As of Wednesday (20) 35,786 people have died from the disease.

Recently Brazil has surpassed the number of infected people in the British country and now they have more than 291 thousand infected.

The numbers make Brazil occupy the third country in the world with more cases of the disease, behind only the USA and Russia, with approximately 1.5 million and 317 thousand infected, respectively.

Despite this, the number of deaths in Brazil is less than in the United Kingdom; To date, 18,859 people have not resisted the new virus. According to data updated by the Ministry of Health, 888 new cases were registered in the last 24 hours alone.


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This source of this article is portaldobitcoin.com.

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