LETTER : Lottery threat

Saturday 06 January 1996 00:02 GMT

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From Mr Dave Foy

Sir: Companies can insure against the adverse effects of the death or incapacity of key employees, but has a new niche market appeared - the insurance of companies against the effects of successful National Lottery syndicates? Even with a normal weekly jackpot, a company of, say, 50 employees, could be seriously weakened by the sudden retirement of a 10-employee syndicate, each waving a pounds 900,000 cheque and two fingers.

The success of the lottery may even affect the future of industrial relations: increased wage settlements in return for no-lottery agreements or extended notice periods in cases of mass, lottery-financed resignations.

Yours faithfully,

Dave Foy

St Helens, Lancashire

2 January

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