Brexit & EconomyPoliticsTreasury denies ‘plans’ to raid dormant bank accounts

Treasury denies 'plans' to raid dormant bank accounts

Conservatives claim chancellor will use money to pay for 2012 games

Claims by the Conservative Party that chancellor Gordon Brown is
planning
on using money from ‘dormant’ bank accounts
to help pay for the
2012 London Olympics, have been denied by the Treasury.

The Treasury describing the allegations as ‘total and utter garbage’.

Tory MPs claimed to have obtained leaked documents showing that the
Treasury is planning to take as
much as £405m from dormant accounts to plug the Olympic hole in the lottery
fund.

The government has already been diverting cash from the
Big Lottery Fund to pay for the
games, after the London 2012 bid went over its original budget.

Tory MPs claim the lottery money will be lost to grassroots sports projects
and even schemes to house the homeless.

Further reading:

Government needs another FD for 2012 Olympics

Huge Olympics overspend likely to hit taxpayers

Cost control bill sees Olympic budget soar

Related Articles

Financial Secretary to the Treasury on cryptocurrency, Brexit and taxing the digital economy

Brexit Financial Secretary to the Treasury on cryptocurrency, Brexit and taxing the digital economy

4w Alia Shoaib, Reporter
HMRC’s refusal to raid top Tory donor Lycamobile to be investigated by MPs

Big Four HMRC’s refusal to raid top Tory donor Lycamobile to be investigated by MPs

1m Alia Shoaib, Reporter
Spring Statement 2018: Spring has sprung as chancellor finds his inner Tigger

Budget Spring Statement 2018: Spring has sprung as chancellor finds his inner Tigger

2m Emma Smith, Managing Editor
Spring Statement live feed

Budget Spring Statement live feed

2m Emma Smith, Managing Editor
Spring Statement 2018: 5 things to look out for

Brexit & Economy Spring Statement 2018: 5 things to look out for

2m Alia Shoaib, Reporter
Financial Secretary to the Treasury on Brexit, Spring Statement, Making Tax Digital and Carillion

Politics Financial Secretary to the Treasury on Brexit, Spring Statement, Making Tax Digital and Carillion

4m Emma Smith, Managing Editor
David Davis, Secretary of State for Exiting the European Union

Brexit & Economy David Davis, Secretary of State for Exiting the European Union

4m Alia Shoaib, Reporter
Philip Hammond, Chancellor of the Exchequer

Brexit & Economy Philip Hammond, Chancellor of the Exchequer

4m Alia Shoaib, Reporter