[commedia] £3.6bn of Community Fund is sitting in the bank

[Bill Best]

A review of the National Lottery was announced by the Government on Friday
1st March after the disclosure that the bodies responsible for distributing
money to good causes were sitting on £3.6bn.

Announcing the review, Tessa Jowell, the Secretary of State for Culture,
said although the Lottery had been a "resounding success" since its launch,
reform of balances, licensing and regulation was needed. She accepted that
difficulties with the £3.6bn distribution fund balances meant money was not
going to deserving community projects and charities desperate for cash.

The unspent money, which amounts to a third of total Lottery income, is in
a bank account earning £140m a year in tax-free interest. The biggest
non-spenders last month were the National Heritage Memorial Fund, with
nearly £1bn unspent, and the New Opportunities Fund, with £789m.

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