Lottery money originally earmarked for good causes may now not be repaid for 30 yearsThe government has been accused of sitting on nearly £2.5bn-worth of assets that hold been earmarked for good causes and charities,many of which face an uncertain future as funding streams start to dry up.
Some of the money – due to be recouped from the sale of Olympic assets built with national lottery money that was originally earmarked for good causes – will not be repaid for 30 years or more, it is being claimed. The government has also declined to say what it intends to do with the lion’s share of the assets, and currently sitting in dormant bank accounts,share portfolios and bond holdings.
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Source: guardian.co.uk