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Last updated: 23 November 2008
Following a statement today to Parliament, Culture Secretary, Tessa Jowell has confirmed the funding arrangements for the Olympics, including the impact on lottery funding.
The Government and Big Lottery Fund have protected resources earmarked for the third sector and a transfer of 425 million will instead come from the third of Big Lottery Fund resources which would have gone to statutory agencies. Nor will the transfer have any impact on existing grants.
Ed Miliband, Minister for the Third Sector said:
“The Government recognises the need for stable funding for the sector and todays decisions reflect our determination to achieve that.”
He continued:
“...today’s funding settlement protects both existing programmes and future resources the sector will get the same level of resources from the Big Lottery Fund that they would otherwise have received. Instead, the Olympic transfer will come from that portion which was expected to go to statutory agencies.”