Treasury denies ‘plans’ to raid dormant bank accounts

Claims by the Conservative Party that chancellor Gordon Brown is
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

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

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