Unspent lottery funds and year-end balance
Desmond challenged the Minister over how much lottery revenue would remain unspent at year end, arguing that only about £5 million had been spent and questioning whether the lottery’s purpose was being undermined. The Minister said unallocated money remained in the lottery fund deposit account, confirmed £5 million had been spent, and denied it would fund a Christmas bonus.
Would the Minister confirm that at year end there will be a net Exchequer surrender of lottery funds of the order of £20 million?
Comment on this
Despite the Minister's lengthy explanation to the House, I want him to tell us that the Exchequer will have on hands, unexpended, at year end £20 million, that the exercise will start in 1988 on the basis of an income of £36 million, that the purpose of the lottery is being vitiated in a major way, that so far about £5 million or £6 million has been spent and that the Minister will probably spend another £7 or £8 million by the year end? In effect, this money will be unexpended, surrendered and absorbed into net Exchequer receipts at the end of the year. Is that not the reality?
Comment on this
What I said in my reply was that the money is in a suspense account and only as it is allocated and required is it taken out of the account and given to the Department of Finance and the spending agencies concerned.
Comment on this
Does the Minister not accept that the Department of Finance, with the rigorous monitoring that has gone on in relation to monthly receipts, have ensured that that money has been transferred to the Exchequer account from An Post, that interest is accruing on that money at this stage, as conceded by the Minister, that by no stretch of the imagination can, at the maximum, a few million pounds be spent between now and the end of the year and that this will be reflected in next year's——
Comment on this
Does the Minister agree that only £4 or £5 million of national lottery money has been spent?
Comment on this
The Minister will agree that with net Exchequer receipts of £36 million, at year end there will be £20 million in the Exchequer which will not be spent on health, sport, youth or any other area.
Comment on this
If this money is not spent, it will not be in the Exchequer account. It will be in the lottery fund deposit account.
Comment on this
Within the next week or so we will announce all the details which will include further expenditure allocations for 1987 and the total allocation for 1988.
Comment on this
Is the Minister seriously suggesting that about £30 million of lottery money will be spent and allocated between now and 31 December 1987?