Proposed moves by the government to take £400 million out of bank accounts left unused by Britons could help some of the most vulnerable groups in Britain with debt management, an expert has advised.

According to Toby Eccles, spokesperson for the Commission on Unclaimed Assets, the Social Investment Bank scheme could help fund charities and support groups targeted at some of the most financially excluded people in the country, who may find themselves unable to successfully apply for a personal loan.

He said: "Despite the massive economic growth in the UK over the past ten to 20 years there has been a significant growth in the number of communities who are disconnected."

Mr Eccles added that the bank "could help fund the groups and charities who can help these people reconnect".

Under the proposals, which were announced yesterday, cash from accounts which have been untouched for at least 15 years will be withdrawn to help fund charities and youth clubs.

It has been reported that some £400 million could be taken out of accounts next year, which could help the financially excluded with debt management and make repayments on debt consolidation loans.

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