§ 33. Mr. Sorensenasked the Secretary of State for India if he will give particulars of the establishment of a State lottery; how much it is expected will be raised in this manner; what is the amount of prize money allocated for this purpose; and whether British troops in India are to be encouraged to purchase lottery tickets.
§ Mr. AmeryThere is no question of the establishment in India of a State lottery in the ordinary sense of the word. The Government of India's Prize Bond issue is like an ordinary loan in that subscribers' capital will be repaid in full at maturity (in 5 years' time), but differs in that, instead of interest, half-yearly prizes (tax-free) amounting in the aggregate to 2 per cent. per annum of the capital issued will be awarded by lot. No limit has been fixed in advance to the amounts which the Government of India may be prepared to receive on these terms. As regards the last part of the Question, I am not aware of any special action having been taken by the Government of India in the matter.
§ Mr. SorensenThis is the introduction of a gambling element and, seeing that we do not employ that method in this country, is it not highly undesirable that it should be employed in India?
§ Mr. AmeryIt is essential to raise the very maximum of loan money in India in order to deal with inflation and the colossal gambling in commodities.
§ Mr. SorensenAre we to take it that the right hon. Gentleman approves of this gambling element?
§ Sir W. DavisonWill my right hon. Friend urge the Government to give favourable consideration to a similar practice in this country?