Returning the 12% Olympic Lottery Tax

Meeting: 
MQT on 2004-11-17
Session date: 
November 17, 2004
Reference: 
2004/1547
Question By: 
Angie Bray
Organisation: 
GLA Conservatives
Asked Of: 
The Mayor

Question

Answer

Answer for Returning the 12% Olympic Lottery Tax

Answer for Returning the 12% Olympic Lottery Tax

Answered By: 
The Mayor

I believe it would be good for the Games and yet another sign of the Government's commitment to the bid if the Chancellor did agree to reinvest the tax from the Olympic lottery in the Games themselves. That said, the National Lottery will already be making a serious investment in the Games. If the Chancellor does decide to make this tax available, I expect there would be a serious discussion about how it should be allocated.

Rest assured, I will continue to press the case to secure the best deal for London and would expect to continue my constructive discussions with the Government about the bid in particular and funding for London more generally. I also remain confident that the funding package I have agreed with Tessa Jowell (Secretary of State for Culture, Media & Sport) will provide all the investment needed to prepare for the Olympic and Paralympic Games. We are not relying on this extra funding to make all the preparations necessary for the Games.