Share

Big Lottery Refund of up to £150m could be made in 2014

Big Lottery Refund
News

Big Lottery Refund of up to £150m could be made in 20142

Finance | Niki May Young | 15 Jan 2013

Sports minister Hugh Robertson has confirmed that up to £150m of the £425m lottery good causes funding used to fund the Olympics could be paid back to lottery distributors in 2014.

The minister has advised that the Olympic Lottery Distribution Fund is likely to have a surplus "somewhere in the range of £100, to £150m, including £71m receipts from the sale of the [Athletes'] Village". However in a letter to the Directory of Social Change (DSC) in which he revealed these figures, Robertson advised the exact amounts would not be known until 2014.

The return of these funds is currently forecast for July 2014, he said in response to a letter from DSC asking for more clarification over how much of the lottery funding would be returned for good causes and when.  

£2.175bn of funding in total was provided by the Lottery to help pay for the Olympics, £638m of this originated from the Big Lottery Fund (BIG), £425m of which would have been earmarked for good causes. 

DSC has been campaigning for a 'Big Lottery Refund' prior to, during and since the 2012 Olympics. Jay Kennedy, head of policy at DSC, said: "We’re talking about potentially hundreds of millions coming back to the Lottery, which could be of huge benefit to so many small local charities and community groups around the country at this difficult time.

"None of this was public information before we started our campaign. We want to thank our supporters and ask them to keep up the pressure – it is making a difference. However, this money isn’t in the bank yet and we will not stop asking until the full £425m is refunded. The government has spent less than expected on the Games, which is all the more reason for it to pay this money back in full, now – not in 2014 or even further into the future."

The commitment to return from the sale of the Olympic Park an additional sum of £675m to lottery distributors, was enshrined in legislation between the Mayor of London, Boris Johnson, and the National Lottery last year. This funding is expected to be returned in the mid 2020s with the full amount paid by 2030/31, said Robertson.

Ged Simpson
Funding Adviser
16 Jan 2013

Keep the campaign going Jay at DSC. Agree with Karen above : this is disgraceful. Now the media and politicians have finished mutual backslapping about the "extraordinary" success of a few "extraordinary" athletes in the "extraordinary" capital, the grim reality of thousands in poverty elsewhere cannot be avoided. Social welfare charities are in desperate need of funding and my experience is gold medals do little to feed kids or heat homes. In ancient Rome they reportedly said " 'Give them bread and circuses and they will never revolt.'

Karen Drury
16 Jan 2013

the mid 2020's?? How much interest would £425m have accrued by then, even at the poxy rate of interest provided by the banks? That's a scandal.

Comments

[Cancel] | Reply to:

Close »

Community Standards

The civilsociety.co.uk community and comments board is intended as a platform for informed and civilised debate.

We hope to encourage a broad range of views, however, there are standards that we expect commentators to uphold. We reserve the right to delete or amend any comments that do not adhere to these standards.

We welcome:

  • Robust but respectful debate
  • Strongly held opinions
  • Intelligent relevant discussion
  • The sharing of relevant experiences
  • New participants

We will not publish:

  • Rude, threatening, offensive, obscene or abusive language, or links to such material
  • Links to commercial organisations or spam postings. The comments board is not an advertising platform
  • The posting of contact details for yourself or others
  • Comments intended for malicious purpose or mindless abuse
  • Comments purporting to be from another person or organisation under false pretences
  • Gratuitous criticism, commentary or self-promotion
  • Any material which breaches copyright or privacy laws, or could be considered libellous
  • The use of the comments board for the pursuit or extension of personal disputes

Be aware:

  • Views expressed on the comments board are left at users’ discretion and are in no way views held or supported by Civil Society Media
  • Comments left by others may not be accurate, do not rely on them as fact
  • You may be misunderstood - sarcasm and humour can easily be taken out of context, try to be clear

Please:

  • Enjoy the opportunity to express your opinion and respect the right of others to express theirs
  • Confine your remarks to issues rather than personalities

Together we can keep our community a polite, respectful and intelligent platform for discussion.

Free eNews

Almost £20m raised through JustGiving for London Marathon

27 Apr 2015

Runners in yesterday's London Marathon have so far raised nearly £20m through JustGiving, the fundraising...

DEC launches appeal and government gives £5m to Nepal earthquake relief

27 Apr 2015

The government will give £2m to the British Red Cross and make another £3m available for charities and...

Philanthropist donates himself off the list of Britain's wealthiest people

27 Apr 2015

Richard Ross, chair of the Rosetrees Trust, donated 23 per cent of his wealth to charity in 2015, reducing...

CSV changes name to Volunteering Matters

27 Apr 2015

Community Service Volunteers has changed its name to Volunteering Matters and is placing more emphasis...

Macmillan and Marie Curie among charity coalition warning about 1.4m hospital deaths

27 Apr 2015

Seven of the UK's largest health charities have called for the next government to provide funding for...

National Union of Students protest billboards removed by Network Rail for being 'too political'

24 Apr 2015

Advertising billboards set up by the National Union of Students in London Victoria, Sheffield Central...

Charities 'need a complete culture change' for digital transformation, says report

24 Apr 2015

Digital teams need to develop better relationships with colleagues in IT and elsewhere in the organisation...

Comic Relief launches grants programme for digital projects

24 Apr 2015

Comic Relief has launched Tech for Good, a new grants programme to help charities run digital projects...

A third of Britons donate to charity by text message, reveals survey

23 Apr 2015

Over 30 per cent of Britons donate to charity by text message and 61 per cent now donate through online...

Join the discussion

 Twitter button

@CSFinance