§ Lord Berkeleyasked Her Majesty's Government:
What are the dates, amounts and uses of commitments made by the Millennium Fund to the Greenwich Millennium project, and what are the sources and amounts of matching funds so far committed.
§ Lord McIntosh of HaringeyThe Millennium Commission agreed in principle on 21 January 1997 to pay grant of £200 million to Millennium Central Limited (the Millennium Exhibition operating company) for the purposes of developing, building and operating the National Millennium Exhibition at Greenwich. The Commission also agreed on that date to consider a future application from Millennium Central for additional grant to cover inflation and contingencies, subject to an order being made under the National Lottery etc. Act 1993 to extend the period over which the Commission receives funds from the National Lottery beyond 31 December 2000. On 27 March 1997, the Commission contracted to pay Millennium Central an interim grant of up to £24.5 million to enable the company to establish its organisation and develop detailed plans. Prior to that, the Commission incurred expenditure of £10.9 million in determining the application for the Greenwich Exhibition. In addition to the Millennium Commission's grant, the costs of the Millennium Exhibition will be met through private sector sponsorship and commercial revenue. A target of £150 million has been set for sponsorship income. Public indications of support have been made by British46WA Telecom, British Airways, BAA, BAe, GEC, the Corporation of London and others. No agreements can be negotiated in detail in advance of the outcome of the Government's review of the exhibition.