John Armitt, chairman of the Olympic Delivery Authority (ODA), has told the Public Accounts Committee (PAC) that he could not guarantee that all the money (estimated at being £2BN) taken from the National Lottery for the London 2012 Olympics will be returned.
When pressed by committee chairman, Edward Leigh, Armitt admitted that he could not even guarantee that part of the money would be returned.
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
Showing posts with label lottery. Show all posts
Showing posts with label lottery. Show all posts
Tuesday, March 9, 2010
Thursday, October 29, 2009
Waste of Resources?
Congratulations to Craig Coulthard, who has won a £460K lottery funded commission for "Artists Taking The Lead", to chop down some trees to make way for a football pitch as one of 12 art projects commissioned to celebrate the London 2012 Olympics.
The "Forest Pitch" will be located in the Borders area; the trees will be used to create a stand, goalposts and shelter.
Two football matches will be played, the pitch will then be left to return to nature.
Errrm...call be a boring old accountant, but isn't this rather a waste of resources (both environmental and financial)?
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
The "Forest Pitch" will be located in the Borders area; the trees will be used to create a stand, goalposts and shelter.
Two football matches will be played, the pitch will then be left to return to nature.
Errrm...call be a boring old accountant, but isn't this rather a waste of resources (both environmental and financial)?
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
Tuesday, January 20, 2009
Olympics Could Cost Wales £100M
Welsh Heritage Minister, Alun Ffred Jones, has claimed that Wales could lose £100M of diverted lottery money to the 2012 Olympics.
He told the Commons Welsh Affairs Committee, as per Wales Online:
"There's a downside, of course, in terms of lost Lottery funding and that's been estimated at £70m.
With the extra money the Lottery could have pulled in, that could be as high as £100M."
The reality that regional MPs need to face is that now that the government has saddled itself and us with the white elephant of the games, it will do everything in its power to avert a PR disaster. That means that money will be diverted from all other areas in order to paper over the cracks of a badly budgeted and badly organised event.
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
He told the Commons Welsh Affairs Committee, as per Wales Online:
"There's a downside, of course, in terms of lost Lottery funding and that's been estimated at £70m.
With the extra money the Lottery could have pulled in, that could be as high as £100M."
The reality that regional MPs need to face is that now that the government has saddled itself and us with the white elephant of the games, it will do everything in its power to avert a PR disaster. That means that money will be diverted from all other areas in order to paper over the cracks of a badly budgeted and badly organised event.
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
Monday, January 5, 2009
Lottery Money Syphoned Off
The lottery company's, Camelot, official records show that it passed on £1.258BN to the lottery's Good Causes fund in 2007/08.
Out of that, the cash strapped Olympics 2012 (ie the Olympic Lottery Distribution Fund) received £147M.
Why is lottery money being used to prop up this white elephant?
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
Out of that, the cash strapped Olympics 2012 (ie the Olympic Lottery Distribution Fund) received £147M.
Why is lottery money being used to prop up this white elephant?
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
Monday, November 10, 2008
Scots Want Their Money Back
The Scottish Government is asking for the return of £150M in lottery funds, which it alleges was diverted from good causes to finance the 2012 London Olympics.
Communities Minister Stewart Maxwell has sent a bid document to UK Sport Secretary Andy Burnham.
Maxwell cites the claim as being "a matter of natural justice".
The BBC quote him:
"We are pressing for the return of the money as a matter of natural justice because we believe it is fundamentally unfair that Scottish good causes should suffer to pay for London 2012.
From the smallest arts groups, through sports clubs, to health promotion centres and local day care facilities, we want to see communities embracing opportunities to make change for themselves and help to improve the quality of their lives and those of others."
However, "natural justice" or not, it is unlikely that the claim will succeed. The Department for Culture, Media and Sport, is resisting the claim.
Quote:
"Scotland has received over £2BN in Lottery money since 1994, and around £150M in the last financial year alone. Since the lottery began, over £315M has been spent on grassroots sport in Scotland.
The Olympic Games will bring immense benefits to the UK: a legacy of world class facilities; the inspiration of a generation to get active and take up sport; as well as huge economic and business benefits with £6bn worth of contracts.
London 2012 will leave a lasting legacy for everyone in the UK, including Scotland, which will host Olympic football at Hampden Park.
In addition, 29 locations across Scotland are included in the official guide to pre-games training facilities for foreign teams in 2012."
The Scots don't have a cat's chance in hell of succeeding with their money back claim!
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
Communities Minister Stewart Maxwell has sent a bid document to UK Sport Secretary Andy Burnham.
Maxwell cites the claim as being "a matter of natural justice".
The BBC quote him:
"We are pressing for the return of the money as a matter of natural justice because we believe it is fundamentally unfair that Scottish good causes should suffer to pay for London 2012.
From the smallest arts groups, through sports clubs, to health promotion centres and local day care facilities, we want to see communities embracing opportunities to make change for themselves and help to improve the quality of their lives and those of others."
However, "natural justice" or not, it is unlikely that the claim will succeed. The Department for Culture, Media and Sport, is resisting the claim.
Quote:
"Scotland has received over £2BN in Lottery money since 1994, and around £150M in the last financial year alone. Since the lottery began, over £315M has been spent on grassroots sport in Scotland.
The Olympic Games will bring immense benefits to the UK: a legacy of world class facilities; the inspiration of a generation to get active and take up sport; as well as huge economic and business benefits with £6bn worth of contracts.
London 2012 will leave a lasting legacy for everyone in the UK, including Scotland, which will host Olympic football at Hampden Park.
In addition, 29 locations across Scotland are included in the official guide to pre-games training facilities for foreign teams in 2012."
The Scots don't have a cat's chance in hell of succeeding with their money back claim!
Olympic Medals won during the Beijing 2008 Olympics
Don't forget to visit www.theolympicswarehouse.com
www.olympicsdiary.com brought to you by www.kenfrost.com "The Living Brand"
Tuesday, February 26, 2008
The £440M Drain on Culture
The 2012 London Olympic Games will drain £440M from London's sport and arts groups. That is the finding of a report issued by the London Assembly culture and sport committee.
Chairman of the group, Dee Doocey, said that it was "ludicrous" that the grassroots groups that encourage children into sport and the arts will miss out.
It estimated that of the £2.2BN being taken from lottery causes to contribute to the £9.3BN needed to host the Games, London will lose about £440m.
Chairman of the group, Dee Doocey, said that it was "ludicrous" that the grassroots groups that encourage children into sport and the arts will miss out.
It estimated that of the £2.2BN being taken from lottery causes to contribute to the £9.3BN needed to host the Games, London will lose about £440m.
Wednesday, January 30, 2008
The Twenty Year Debt
It seems that the less than popular £675M smash and grab raid on the National Lottery, to pay for the increased cost of the London 2012 Olympics, could take until 2031 to be repaid in full.
That's a very long time!
Andrew Travers, finance officer for the London Development Agency, told the London Assembly that while most of the extra Lottery cash would be clawed back from land sales at the Olympic Park 10 years after the Games, it could take another decade for the full amount to be realised.
His testimony is somewhat at odds with the "official" view as promulgated by the Olympics minister, Tessa Jowell. She was happily telling MPs, at the same time that Travers was testifying, that it would take up to 10 years to recoup the money.
So who is right, finance officer or politician?
Need you ask?
That's a very long time!
Andrew Travers, finance officer for the London Development Agency, told the London Assembly that while most of the extra Lottery cash would be clawed back from land sales at the Olympic Park 10 years after the Games, it could take another decade for the full amount to be realised.
His testimony is somewhat at odds with the "official" view as promulgated by the Olympics minister, Tessa Jowell. She was happily telling MPs, at the same time that Travers was testifying, that it would take up to 10 years to recoup the money.
So who is right, finance officer or politician?
Need you ask?
Monday, January 14, 2008
The True Cost of The Games
The Big Lottery Fund, which is responsible for handing out half the money for good causes raised by the Lotto, has reduced the amount distributed from £696M to £469M.
Why?
The government has diverted funds to the London 2012 Olympics.
Why?
The government has diverted funds to the London 2012 Olympics.
Monday, November 5, 2007
The Ticket Lottery
Ticket sales for the 2008 Beijing Olympics will revert to a lottery system, after last week's problems with the first-come, first served process caused the computer system to crash.
Demand was so high that the official ticketing website had 8 million views in the first hour.
The first tranche of tickets were sold in April 15 using a lottery system, and organisers decided to revert to it "in the interest of fairness and for everyone's convenience."
People who want to buy tickets can submit applications between December 10th and December 30th.
The date of the lottery will be announced later.
Demand was so high that the official ticketing website had 8 million views in the first hour.
The first tranche of tickets were sold in April 15 using a lottery system, and organisers decided to revert to it "in the interest of fairness and for everyone's convenience."
People who want to buy tickets can submit applications between December 10th and December 30th.
The date of the lottery will be announced later.
Tuesday, August 7, 2007
The Olympic Legacy
One of the curious side effects, or to use the fashionable term beloved by the IOC and other Olympic organs - "legacy", of the London Olympics 2012 is that of preserving Camelot's monopoly stranglehold over the UK lottery industry.
Camelot is expected to hold on to the National Lottery today, it has run the National Lottery since 1994. However, it is facing a rival bid from Sugal & Damani, an Indian based rival.
Despite the fact that Camelot is in a monopoly position, and as such it could be argued that it would be beneficial to open the market up to competition, it is unlikely to lose its stranglehold.
The simple reason being that it has been asked to guarantee £2.2BN for the Olympics 2012, the budget for which is spinning hopelessly out of control.
Sugal & Damani would have problems in guaranteeing that sum.
So those who look for an Olympic legacy need look no further than the lottery monopoly, something to be proud of!
Camelot is expected to hold on to the National Lottery today, it has run the National Lottery since 1994. However, it is facing a rival bid from Sugal & Damani, an Indian based rival.
Despite the fact that Camelot is in a monopoly position, and as such it could be argued that it would be beneficial to open the market up to competition, it is unlikely to lose its stranglehold.
The simple reason being that it has been asked to guarantee £2.2BN for the Olympics 2012, the budget for which is spinning hopelessly out of control.
Sugal & Damani would have problems in guaranteeing that sum.
So those who look for an Olympic legacy need look no further than the lottery monopoly, something to be proud of!
Wednesday, June 27, 2007
Jowell To Explain Herself
Tessa Jowell, the Olympics Minister, will explain today how the government will repay the £675M that it has taken from the national lottery to cover the ever spiralling costs of the London 2012 Olympics.
A memorandum of understanding between Jowell and Ken Livingstone, the mayor of London, will explain how the money is to be clawed back from land sales from the Olympic Park at Stratford.
Under the terms of the memorandum, which will be deposited in the library of the House of Commons, Jowell and Livingstone explain that the £675m will start to be repaid after 2012; once the London Development Agency has recovered the £650M it has spent on acquiring the Olympic Park site.
There is no mention about paying interest on the money.
A week is a long time in politics, 5 years is an eternity. It is therefore highly likely that the government will renege on this agreement before then.
The national lottery will never see that money again.
A memorandum of understanding between Jowell and Ken Livingstone, the mayor of London, will explain how the money is to be clawed back from land sales from the Olympic Park at Stratford.
Under the terms of the memorandum, which will be deposited in the library of the House of Commons, Jowell and Livingstone explain that the £675m will start to be repaid after 2012; once the London Development Agency has recovered the £650M it has spent on acquiring the Olympic Park site.
There is no mention about paying interest on the money.
A week is a long time in politics, 5 years is an eternity. It is therefore highly likely that the government will renege on this agreement before then.
The national lottery will never see that money again.
Monday, June 25, 2007
Olympic Money Row
A row has broken out over the use of lottery money to fund the ever growing London 2012 Olympics Games budget.
The Culture, Media and Sport committee are very unhappy that lottery money is being diverted from British museums and galleries to pay for the 2012 Olympics. They have stated in a report, entitled "Caring for Our Collections", that the money should be treated as a loan and repaid.
The report also states that no more money should be drained from the Heritage Lottery Fund, or other lottery distributors, if the Olympic bill exceeds the figure set out by Tessa Jowell on March 15.
As yet, there has been no response from Jowell.
The Culture, Media and Sport committee are very unhappy that lottery money is being diverted from British museums and galleries to pay for the 2012 Olympics. They have stated in a report, entitled "Caring for Our Collections", that the money should be treated as a loan and repaid.
The report also states that no more money should be drained from the Heritage Lottery Fund, or other lottery distributors, if the Olympic bill exceeds the figure set out by Tessa Jowell on March 15.
As yet, there has been no response from Jowell.
Friday, June 22, 2007
The Cultured Olympics
The London 2012 Olympics will be hyped by a nationwide festival of culture, which will start next summer, according to Olympics organisers yesterday.
The festival will include an international Shakespeare festival, and mark the beginning of a four-year film and video project across Britain.
The festival is the first of 10 major projects to mark the Olympics. The projects are being planned in partnership with organisations such as the BBC, and the UK Film Council. The arts sector is being told how it can get involved in the celebrations.
It is somewhat ironic that arts are being used to promote the Olympics, and being told what to do, given that Lottery money intended for the arts is being diverted to fund the Olympic budget shortfall.
A tad hypocritical, wouldn't you say?
In a related announcement, there are plans for a logo to endorse sporting, community and cultural projects.
Guess who will be designing that?
Yes, that's right, the same company behind the "Lisa Simpson Gives Head" London Olympics logo!
The festival will include an international Shakespeare festival, and mark the beginning of a four-year film and video project across Britain.
The festival is the first of 10 major projects to mark the Olympics. The projects are being planned in partnership with organisations such as the BBC, and the UK Film Council. The arts sector is being told how it can get involved in the celebrations.
It is somewhat ironic that arts are being used to promote the Olympics, and being told what to do, given that Lottery money intended for the arts is being diverted to fund the Olympic budget shortfall.
A tad hypocritical, wouldn't you say?
In a related announcement, there are plans for a logo to endorse sporting, community and cultural projects.
Guess who will be designing that?
Yes, that's right, the same company behind the "Lisa Simpson Gives Head" London Olympics logo!
Wednesday, June 20, 2007
Brown Robs Bank Accounts To Fund Olympics
The budget row over the London 2012 Olympic Games has escalated, as Gordon Brown has been accused of robbing dormant bak accounts to pay for the ever spiralling costs of the London games.
Ed Balls, Brown's Economic Secretary, was questioned by MPs on the all party Treasury select committee about how money in dormant bank and building society accounts for 15 years or more will be used when transferred to a new unclaimed assets fund.
Balls said that the estimated £400M, expected to be raised, had two key priorities which are to improve youth services and financial inclusion.
However, Tory MP Michael Fallon said that these causes should in fact receive grants from the National Lottery. Instead the National Lottery is having to provide an extra £675M towards the cost of the London Olympics.
Fallon said:
"In essence minister, you are robbing people's private accounts to pay for Olympic mismanagement."
The budget for the Games has ballooned to £12BN, and is likely to continue to rise.
Ed Balls, Brown's Economic Secretary, was questioned by MPs on the all party Treasury select committee about how money in dormant bank and building society accounts for 15 years or more will be used when transferred to a new unclaimed assets fund.
Balls said that the estimated £400M, expected to be raised, had two key priorities which are to improve youth services and financial inclusion.
However, Tory MP Michael Fallon said that these causes should in fact receive grants from the National Lottery. Instead the National Lottery is having to provide an extra £675M towards the cost of the London Olympics.
Fallon said:
"In essence minister, you are robbing people's private accounts to pay for Olympic mismanagement."
The budget for the Games has ballooned to £12BN, and is likely to continue to rise.
Wednesday, May 9, 2007
Robbing Peter To Pay Paul
Graham Sheffield, the chairman of the Royal Philharmonic Society, last night attacked the British government for using £112M from arts lottery funding to help pay for the rising costs of the Olympics.
At the society's annual awards ceremony, Graham Sheffield condemned the government's "thoughtless damage" and "incoherent approach" to the arts, accusing it of:
"one minute praising the arts sector to the skies, the next, nicking hundreds of millions of pounds from the arts to balance the books on its inadequate budgeting for the Olympics".
No one is impressed with the government's handling and management of the London Olympics, except that is for the government itself.
At the society's annual awards ceremony, Graham Sheffield condemned the government's "thoughtless damage" and "incoherent approach" to the arts, accusing it of:
"one minute praising the arts sector to the skies, the next, nicking hundreds of millions of pounds from the arts to balance the books on its inadequate budgeting for the Olympics".
No one is impressed with the government's handling and management of the London Olympics, except that is for the government itself.
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