HL Deb 03 June 1997 vol 580 cc37-8WA
Lord Berkeley

asked Her Majesty's Government:

What are the dates, amounts and uses of commitments made by lottery funds to the Royal Opera House, and what are the sources and amounts of matching funds so far committed.

Lord McIntosh of Haringey

The Arts Council of England announced on 20 July 1995 that it had agreed to provide an initial National Lottery grant of £55 million, plus a possible further £23.5 million, to the Royal Opera House Covent Garden development project. Both grants were approved subject to certain conditions. The Arts Council agreed on 19 March 1997 that those conditions had been met and confirmed the full grant of £78.5 million.

Of that amount, £16.5 million has so far been released in staged payments. These monies have been used to fund both the capital development at Covent Garden and some of the extra costs incurred as a result of the need to mount productions elsewhere during the closure period.

The sources of matching funds for the redevelopment are the Public Appeal Fund, launched in December 1996, and the realisation of retail development on the site worth upwards of £35 million. The appeal has so far raised over £60 million towards its target of £100 million.