Less than 15% of almost£2.5 billion available to the five national lottery good causes has actually been paid out,...
Less than 15% of almost £2.5 billion available to the five national lottery good causes has actually been paid out, according to government figures.
In a major feature The Guardian (21 Sept p7) revealed that just £374 million has been paid out - often because many bodies are still looking for partnership help. Although the undistributed money remains earning interest in the good causes' accounts, for accountancy purposes the £2bn-plus is counted as part of the government's wealth and helps reduce the public sector borrowing requirement.
The lowest percentage paid out of money awarded is millennium grants, at 3%; heritage funds winners have received 29%; arts, 17%; sports, 21%; and charities fund winners, 23%. The Millenium Commission said many of their projects were fairly large and subject to delays in detailed designs and planning permission.