To ask the Secretary of State for Culture, Media and Sport, what steps her Department is taking to repay, with interest, funds diverted from the Big Lottery Fund to National Lottery distributors in 2007 to finance the Olympic Games in London in 2012.
24 November 2016
As agreed from the outset, repayments to the National Lottery Distribution Fund will come from land development and sales in the Queen Elizabeth Olympic Park. Payments are expected to start in the early 2020s, and distributors will receive payments pro-rata to their contribution. The BLF’s share of this money is £425m. This is set out in a legal agreement between DCMS SoS and the Greater London Authority (GLA) from 2012, which I attach.