asked the Minister for Finance the amounts disbursed since 1 January 1988 from the proceeds of the national lottery; and the amount standing in the Exchequer paid in from the national lottery as of 1 November 1988.
Ceisteanna — Questions. Oral Answers. - National Lottery Allocations.
3.
National lottery funds issued to the spending Departments during the period 1 January 1988 to date, amount to £30.9 million.
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. As of 1 November 1988, £23.3 million had been brought into the Exchequer in 1988; since then, a further £7.6 million has been taken in to bring receipts up to the same level as issues to date, i.e. £30.9 million.
I understand the nicety that there is a staging post for moneys on the way from the national lottery into the Exchequer. This is the account held by the national lottery at the Central Bank. How much money is sitting in the Central Bank waiting to be drawn down into the Exchequer to fund these disbursements? What percentage of the year's projected expenditure has occurred to date? How much is it proposed to expend between now and the end of December?
The balance in the national lottery fund account is £36.37 million. Some of this will be required to meet the payment of prizes and other current and prospective liabilities. I do not have the figure for the second part of the Deputy's question.
Does the interest on those moneys accrue to the National Lottery Company rather than to the Exchequer?
To the Exchequer.
The Exchequer gets the money?
Yes, but all of the accrued interest is eventually allocated as part of the lottery proceeds.
Of the £36 million sitting in that account, what rough percentage is earmarked for prizes, and how much is available for further disbursements?
I do not have the exact detail in relation to the breakdown, but there are other questions on the Order Paper which deal with the percentage of prizes and gross sales.