DEPARTMENT FOR
CULTURE, MEDIA AND SPORT News Release (124\2007) issued by The
Government News Network on 25 October 2007
The legislation to
transfer funds from National Lottery good causes to help fund the
London 2012 Olympic and Paralympic Games has been laid before
Parliament today.
The order - a statutory instrument - would enable the Government
to transfer £1.085 billion from National Lottery distributors to
help meet the cost of the facilities and infrastructure for the
2012 Games. It follows the announcement of the full funding
package in March 2007, when the Government set out plans to
redirect £675 million from the National Lottery good causes, along
with the earlier allocation of £410 million.
Minister for Sport and the Lottery, Gerry Sutcliffe, said:
"We want the 2012 Games to be the greatest spectacle the
world has ever seen - an opportunity to inspire people and
transform lives. They are exactly the type of national event that
the Lottery was set up to fund.
"2012 will be far more than a few weeks of sport - they will
bring a lasting legacy for the whole country.
"We have worked closely with Lottery distributors to
transfer money in a way which minimises disruption to good causes.
And of course the Lottery will be paid back a substantial part of
its contribution from the sale of land in the Olympic park. In the
meantime our sports and cultural sectors will continue to receive
substantial core funding from DCMS - safeguarded thanks to the
recent generous CSR settlement - as well as the bulk of their
Lottery funding."
In addition to the £1.085 billion, a further £750 million will be
raised through dedicated 2012 Lottery games and £340 million from
sports Lottery distributors, making a total of £2.175 billion, or
23 per cent of the overall funding package of £9.325 billion.
The rest of the funding package is made up of £5.975 billion (64
per cent) from the Exchequer and £1.175 billion (13 per cent) from
London - comprising £925 million from the Greater London Authority
and £250 million from the London Development Agency.
Notes to Editors
1. The order is subject to the affirmative resolution procedure
in both Houses of Parliament.
2. The National Lottery has always formed part of the funding
package for the Olympic Games. First details were given when Tessa
Jowell told Parliament of the Government's decision to back
an Olympic bid on 15 May 2003. http://www.publications.parliament.uk/pa/cm200203/cmhansrd/vo030515/debtext/30515-09.htm#30515-09_head1.
3. Tessa Jowell gave full details of the funding package for the
Olympic Games to Parliament on 15 March 2007. http://www.publications.parliament.uk/pa/cm200607/cmhansrd/cm070315/debtext/70315-0005.htm#07031532000009
http://www.culture.gov.uk/Reference_library/Press_notices/archive_2007/dcms042_07.htm
4. The transfer of the £1.08 billion from Lottery distributors
would take place in quarterly instalments of £73 million between
2009 and 2012.
5. No existing Lottery projects or new projects already offered
funding need be affected by the transfer.
6. An agreement between the Government and the Mayor of London
will see the additional contribution of £675 million repaid to the
lottery from land sale profits after the Games.
7. Lottery good causes will still receive more than £5.4 billion
over the next five years on top of Exchequer funding.
8. The Government recently announced that an extra £50 million of
Exchequer funding would be going towards Arts Council England by
2011 and that English Heritage would receive a rise of £7 million
over the next three years. http://www.culture.gov.uk/Reference_library/Press_notices/archive_2007/dcms117_07.htm
http://www.culture.gov.uk/Reference_library/Press_notices/archive_2007/dcms118_07.htm
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