Published On: Wed, Nov 13th, 2019

National Lottery: New game with tickets costing £2.50 proposed to help players save £250 | Personal Finance | Finance

It recommends that the Treasury subsides the savings element of the ticket price, similar to subsiding savings into ISAs.

It also suggests that the savings accounts created for players should be held by National Savings & Investments (NS&I) or another state-backed institution.

An SMF analysis of Office for National Statistics (ONS) data suggests that people of all incomes tend to play National Lottery games, however the spending on the lottery absorbs a much higher proportion of income for lower-income players.

Households in the top 10 percent of incomes contribute £61 per year towards the National Lottery Fund, which works out at just 0.07 percent of their disposable income, while people with the lowest 10 percent of incomes contribute £46 to the Lottery Fund, equal to 0.48 percent of their spending power.

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