Lottery licence sale details
Senator Marie-Louise O’Donnell calls for the Minister to explain the €405 million lottery licence payment, repayment arrangements, interest and likely effects on ticket prices.
I ask the Minister for Public Expenditure and Reform to come to the House to explain to us the details of the sale of the lottery licence. What are the details surrounding the €405 million we are to get upfront? Who is repaying what? What are An Post and Camelot putting in and what are we paying back for the upfront payment? What is the interest rate on the figure of €405 million and how much of the people's money will be paid to Camelot? What guarantee do we have that Camelot will not put up lottery ticket prices? Where are the details? We have had a whirlwind of reporting in newspapers, but there are no details. Therefore, I would like the Minister to come here to explain to us where our money is going and what interest we will pay on this "gift" of €405 million.