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Olympic Games 2012: Finance

Volume 467: debated on Monday 12 November 2007

To ask the Minister for the Olympics whether any of the £2.7 billion contingency fund announced as part of the Olympic budget in March 2007 is drawn from the National Lottery. (162086)

Contingency funding will only be called upon where it is absolutely necessary, as agreed by the ministerial funders’ group. Any draw-down of contingency will include a proportionate contribution of funds from each of the contributors.

The lottery’s contribution to the contingency is a matter for the Olympic Lottery Distributor. They have indicated their intention that around 20 per cent. of the £2.747 billion contingency could be met from lottery funds included in the £9.325 billion funding package, announced on 15 March 2007.

To ask the Minister for the Olympics what the forecast of (a) VAT, (b) contingency and (c) legacy transportation costs of the main Olympic stadium will be, with reference to the answer of 22 October 2007, Official Report, column 48W, on Olympic Games: Greater London. (162275)

The cost of the main Olympic stadium is £496 million inclusive of VAT, allowance for inflation, some site works, and legacy conversion. No further breakdown can be provided at this point as this information is commercially confidential.

To ask the Minister for the Olympics with reference to the answer of 18 April 2007, Official Report, columns 638-39W, on London Olympics (Ref 129383 and 129384), if she will provide a more detailed breakdown of the planned expenditure on the Olympic Park and infrastructure and regeneration. (162278)