Skip to main content
Normal View

Dáil Éireann debate -
Thursday, 10 Nov 1988

Vol. 384 No. 1

Written Answers. - National Lottery Statistics.

41.

asked the Minister for Finance in respect of the commencement of the national lottery up to 31 October 1988 if he will outline the following: (a) the total gross amount received in the national lottery (b) the net amount available for distribution after deduction of prizes and expenses (c) the amount on hand on that date in his Department (d) the amount of interest received up to that date on the gross proceeds of the national lottery (e) where the interest received was disbursed and (f) the amount to be disbursed between 1 November 1988 and 31 December 1988.

Since the introduction of the national lottery in March 1987, gross receipts from ticket sales to 31 October 1988 amounted to £192 million.

The 1987 surplus was £42.1 million including £1.6 million interest in respect of 1987. It is not practicable to identify the surplus for the period to 31 October 1988; the surplus forecast for 1988 as a whole is approximately £35 million inclusive of interest.

The proceeds of the national lottery are held in the national lottery fund account at the Central Bank until they are brought into the Exchequer as non-tax revenue to cover issues to the spending Departments. There are not therefore at any stage unexpended funds on hands in my Department. As of 31 October 1988, £23.3 million had been brought into the Exchequer in 1988.

Interest paid to the national lottery fund from its establishment in March 1987 to 31 October 1988 amounted to £3.367 million.

The interest is an integral part of the lottery surplus and is not disbursed separately.

It is estimated that up to £26.5 million will be disbursed during the period 1 November 1988 to 31 December 1988.

Top
Share