It has been welcomed by Tessa Jowell, Secretary of State for Culture, Media and Sport, and by the Chancellor of the Exchequer, Gordon Brown, who commissioned the report last year.

Tessa Jowell said:

"We are grateful to Lord Carter and his team for the work they have undertaken in producing this considered report, which highlights several important areas for action. 

"We have already announced plans, based on Lord Carter's recommendations, to put in place a National Sports Foundation. The Government will fully involve stakeholders in considering its recommendations for the future funding of sport."

Presenting the report to Government, Lord Carter said:

"These recommendations directly address the primary issues identified by the review team, which relate to the on-going modernisation of sport. It is our considered opinion that the five areas highlighted represent the next stage of the journey for sport and will build upon the momentum already achieved.

"The report shows that sport has considerable financial resources – £1.8bn per annum of public funds – some of which can be re-deployed to deliver more and better services. In addition, innovative capital and revenue funding schemes working with the public, private and voluntary sectors could enable us to continue our programme of reform and ensure that, at all levels, we are fit for purpose by 2012."