§ Mr. Nigel JonesTo ask the Secretary of State for National Heritage (1) who benefits from interest earned by the national lottery distribution fund; and if he will make a statement. [5021]
(2) how much money for good causes lying in the national lottery distribution fund is committed to projects which do not require the money in (a) the current financial year and (b) the financial years up to (i) 1998–99, (ii) 1999–2000 and (iii) 2000–2001; and if he will make a statement; [5022]
(3) what the current balance is in the national lottery distribution fund; and if he will make a statement; [5023]
(4) how much interest has been earned by the national lottery distribution fund; and if he will make a statement. [5020]
§ Mr. BanksProceeds from the National Lottery are held in the National Lottery Distribution Fund (NLDF) and invested by the National Debt Commissioners until required by the eleven distributing bodies. The balance in the NLDF at 31 May 1997 was £2,825,835,638. Investment returns received from the start of the National 35W Lottery to 31 May 1997 total £239,291,980. This interest is split between the distributors in line with the proportion of the NLDF attributable to each of them.
At 31 May, £3.47 billion had been raised by the Lottery for the good causes and this was matched by awards totalling £3.46 billion. The funds in the NLDF are therefore committed to projects that will be developed over the next few years. The majority of these projects will be completed before 2000–2001, but a few will require funding beyond that date.
My right hon. Friend the Secretary of State will be publishing a White Paper next month setting out the Government's proposals to deliver our commitments to widen access to the benefits of Lottery, introduce a more strategic and co-ordinated approach to distribution of proceeds and ensure that as much money as possible goes to the good causes.