Clause 9 - Investment income
National Lottery Bill
2:45 pm
Don Foster (Shadow Secretary of State for Culture, Media & Sport, Culture, Media & Sport; Bath, Liberal Democrat)
I shall be brief. I fundamentally disagree with what clause 9 proposes; our current arrangement works perfectly well. The Minister has said that the clause will not significantly affect the funds available for any distributor. The truth is that the National Heritage Fund, following the research that it commissioned, is firmly of the view that the provision will mean that it will lose £15 million a year from the total money that it has available for its activities. I could argue at great length about that.