COUNCIL bosses have backed plans to release the proceeds from 'dormant assets' to left behind neighbourhoods in Atherton and Leigh.

An endowment fund could be created to regenerate struggling wards, under the Community Wealth Fund.

This would use proceeds from bank and building society accounts, stocks, shares, bonds, insurance and pension policies which have not been used for many years and where the owner cannot be traced.

The estimated worth of this would be around £900m and Atherton and Leigh West, along with Pemberton, have been identified as potential beneficiaries by Wigan Council.

Cllr Keith Cunliffe, deputy leader and Leigh East ward member, said: “Our community wealth building approach is about putting control of our local economy back in the hands of local residents, businesses and communities.

“Building a fairer and stronger economy , one that puts our residents first, will also help our recovery plans for a post-pandemic world. We are more than happy to support the Community Wealth Fund Alliance.”

An All-Party Parliamentary Group for 'left behind' areas is behind the move.