National Lottery (Hansard, 10 February 1995)

§ Mr. Redmond
To ask the Secretary of State for National Heritage who appointed the head of the Arts Council lottery committee.

§ Mr. Dorrell
Appointments to the Arts Council of England are made by the Secretary of State for National Heritage. In appointing Mr. Peter Gummer, my predecessor asked him to take special responsibility for the Arts Council's activities as a national lottery distributor.

§ Mr. Chris Smith
To ask the Secretary of State for National Heritage whether any of the funds raised for good causes by the national lottery are being invested in gilt-edged securities prior to disbursement by the lottery distribution bodies.

§ Mr. Dorrell
[holding answer 2 February 1995]The proceeds of the national lottery held in the national lottery distribution fund are being invested in a range of investments which include gilt-edged securities. At 1 February, the investment portfolio for the fund was as follows:

£ million Percentage

Treasury Bills 65 41

Local Authority Stocks and loans 62 39

Gilts 22 14

Ways and Means 9 6

Total 158

	£ million	Percentage
Treasury Bills	65	41
Local Authority Stocks and loans	62	39
Gilts	22	14
Ways and Means	9	6
Total	158