HC Deb 10 February 1995 vol 254 c457W
Mr. Redmond

To ask the Secretary of State for National Heritage who appointed the head of the Arts Council lottery committee.

Mr. Dorrell

Appointments to the Arts Council of England are made by the Secretary of State for National Heritage. In appointing Mr. Peter Gummer, my predecessor asked him to take special responsibility for the Arts Council's activities as a national lottery distributor.

Mr. Chris Smith

To ask the Secretary of State for National Heritage whether any of the funds raised for good causes by the national lottery are being invested in gilt-edged securities prior to disbursement by the lottery distribution bodies.

Mr. Dorrell

[holding answer 2 February 1995]The proceeds of the national lottery held in the national lottery distribution fund are being invested in a range of investments which include gilt-edged securities. At 1 February, the investment portfolio for the fund was as follows:

£ million Percentage
Treasury Bills 65 41
Local Authority Stocks and loans 62 39
Gilts 22 14
Ways and Means 9 6
Total 158

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