Lottery billions sitting in bank

Lottery billions are still sitting in banks despite Government attempts to get them to good causes, it was revealed today.

Culture Secretary Tessa Jowell gave herself two years to cut the £3.1 billion figure in half by the end of next month.

But Ms Jowell has brought in Whitehall's spending watchdog after failing to meet the forecast.

The £2.8 billion current balance threatens "public confidence in proper management of the lottery", she admitted to MPs.

"I have been very concerned by what we have seen as the unacceptably high level of lottery balances," she said.

However, balances have fallen by £1 billion in the past two years, she told the Commons Culture select committee.

And it was not true that the money was just "sitting around earning interest", Ms Jowell insisted.

All the cash has been assigned to projects which are still waiting to be signed off, MPs heard.

The National Audit Office will now examine the process, Ms Jowell added.