LOTTERY PLAN CHOWS NINE-FIGURE PROFIT
London, Jan. 16. A group of promoters who hope to persuaded the Government to launch a world-wide lottery have explained their plans in London. They claimed that the Treasury would make a clear profit every year of £950,000,000.
One-third of the profit would be used to reduce the income tax by 3s in the £. Half the estimated proceeds should be shared among more than a million prize-winners each year. They suggest that the remainder could be allocated as follows: —To repay the National Debt, £500,000,000; to reduce the income tax, £300,000,000; to buy extra food from the Empire and Commonwealth, £loo* 000,000; to provide for the old and invalids, £45,000,000; to assist medical research, £5,000,000.
The renewal of the lottery each year should be subject to Parliamentary sanction.
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Wanganui Chronicle, 19 January 1948, Page 5
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133LOTTERY PLAN CHOWS NINE-FIGURE PROFIT Wanganui Chronicle, 19 January 1948, Page 5
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