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Redirection of Lottery funds under debate
By Helen Patenall
Parliament is debating legislation to permit the transfer of funds from National Lottery causes towards the London 2012 Olympic and Paralympic Games.
If approved by both Houses, the order will enable government to transfer £1.085bn from National Lottery distributors to help pay for the cost of the facilities and infrastructure needed for the 2012 Games, at a rate of £73m each quarter between 2009 and 2012.
Minister for sport and the lottery, Gerry Sutcliffe, said: “We have worked closely with Lottery distributors to transfer money in a way which minimises disruption to good causes. 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.”
An additional £750m will be raised by dedicated 2012 Lottery games and £340m wil come from sports Lottery distributors.
Parliament is debating legislation to permit the transfer of funds from National Lottery causes towards the London 2012 Olympic and Paralympic Games.
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