§ Ms Roseanna CunninghamTo ask the Minister without Portfolio what is the budget for the millennium dome project, broken down by(a) category of expenditure and (b) source of revenue. [6129]
§ Mr. MitchellTo ask the Minister without Portfolio what sums he estimates will be required from business for the millennium experience exhibition; and what assessment he has made of the effects on other millennium exhibition activities of businesses supporting the millennium experience. [6478]
§ Mr. Mandelson[holding answer 3 July 1997]: Allowing for inflation and contingencies, the overall cash budget of the new millennium experience at Greenwich and associated national programme will be £758 million. Detailed breakdown of expenditure is subject to contractual negotiation and will be published in the accounts of the New Millennium Experience Co. Ltd. at the appropriate time. Budgeted revenue for the millennium experience will come from £175 million private sector sponsorship and commercial revenue—International Management Group's contract sets a target for sponsorship of £150 million—£168 million is expected from visitor revenue including ticketing and merchandising, and £15 million from the disposal of assets. The original grant of £200 million lottery money from the Millennium Commission will be supplemented as necessary by a further grant from the commission of up to £250 million (gross); £200 million (net).