§ Matthew GreenTo ask the Secretary of State for Culture, Media and Sport how much money the New Opportunities Fund was allocated in 2003–04; and whether any of this money has not been committed. [179942]
§ Estelle MorrisThe New Opportunities Fund receives one third of money raised by the National Lottery, and distributes it to projects benefiting health, education and the environment. It also receives interest on money raised for the Fund, until it is passed on to project operators.
In the financial year 2003–04, the Fund received £432,951,952.49 from the Lottery and £24,571,088.29 in interest.
At the end of the year, the Fund held a total balance of £737,229,804 and had outstanding commitments of £1,144 billion. The Fund was therefore over-committed by £407 million, or 55.2 per cent.