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Chancellor George Osborne's Big Lottery Win

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OneFootInTheGrave

OneFootInTheGrave Report 8 May 2013 06:27

The biggest winner from the imminent revamp of the National Lottery will be the Treasury, independent analysts said yesterday.

They forecast that two years from now, Chancellor George Osborne will be taking £1billion a year in tax from lottery tickets – almost double the State’s share of the takings before the onset of the economic downturn.

The estimate means the Treasury is due to double its money following the doubling of the price of a Lotto ticket to £2 this autumn.

For every £1 spent on the lottery, 50p is paid to winners, 28p goes to good causes, 5p to retailers, 5p to the operator – and 12p to the Treasury.

http://www.dailymail.co.uk/news/article-2320986/Osbornes-lotto-jackpot-Treasury-stealth-tax-punters-set-raise-1bn-year-games-revamp.html