Additional funding totalling £182m would be raised by introducing a gross profits tax regime for the National Lottery.
“By funding grass-roots initiatives that have nothing to do with politicians, the National Lottery puts power into the hands of communities and allows them to transform their quality of life,” said Cameron.
“Our bill will end political interference, stop ministers grabbing lottery cash and potentially generate an extra £182m for the good causes of the arts, sport, heritage and charities.”
Greg Clark, shadow charities minister, said the bill would “protect the lottery good causes from further government raids and boost the amount of lottery money that goes to charities and other voluntary organisations”.
He added: “The bill would protect the share of Big Lottery Fund money that goes to voluntary and community groups. The voluntary sector component will be named the Voluntary Action Fund to reflect the emphasis of its activities. It will have a guarantee of at least the current level of funding that goes from the BLF to voluntary sector organisations.”
Clark said the bill “would redistribute the money that the BLF channels to Government projects between all the good causes, including the voluntary sector”.