HL Deb 05 April 2004 vol 659 c215WA
Lord Jopling

asked Her Majesty's Government:

From where the funds will be found to finance the hid for London to host the 2012 Olympic Games in the event of the bid failing. [HL2304]

Lord McIntosh of Haringey

The memorandum of understanding between the Government and the Mayor of London, presented to Parliament in June 2003 as Command Paper CM 5867, states that "DCMS and the London Development Agency propose to contribute to the costs of the bid organisation and associated planning in equal shares to July 2005 to a combined limit of £30 million." London 2012 is also seeking private sector funds to support the bid.

Lord Jopling

asked Her Majesty's Government:

Whether consideration has been given to London residents receiving preferential access to tickets for the 2012 Olympic Games in the event of a successful hid for London to stage the event. [HL2305]

Lord McIntosh of Haringey

There are no plans for London residents to benefit from a preferential ticketing policy. However, a number of events such as the marathon, road cycling and triathlon are likely to be able to accommodate large numbers of local people watching free of charge.

Lord Jopling

asked Her Majesty's Government:

What would happen if the estimated cost of £2.375 billion required to stage the 2012 Olympic Games, in the event of a succcessful hid, overran; and whether the Government would cover the deficit. [HL2308]

Lord McIntosh of Haringey

The up to £2.375 billion funding package described in the memorandum of understanding between the Government and the Mayor of London published in June 2003 makes allowance for the potential public sector contribution to support the staging of the Olympic and Paralympic Games. This is in addition to private sector sources of funding such as sponsorship and television rights. Beyond this, the Government, as stated in the memorandum of understanding and reiterated in a departmental minute presented to Parliament on 2 December 2003, have given a commitment to be the ultimate guarantor for the Games. On current contingency plans, the Goverment would expect to discharge this responsibility, should it arise, in a sharing arrangement to be agreed as appropriate with the Mayor of London and for their part seeking additional National Lottery funding. These expectations will be further reviewed in summer 2005.