UK Sport Faces Large Budget Cuts
The £9.3bn London 2012 Olympic budget has been spared in the Government’s Comprehensive Spending Review, but sport is facing cuts of around 30% in total.??
Sport England sees its funding cut by 33% over four years, while UK Sport faces a 28% reduction – but both will benefit from the reinstatement of a 20% share in lottery money distribution after 2012-13.
??Despite the cuts Liz Nicholl, UK Sport Chief Executive, said: ‘This settlement represents a positive outcome in difficult times. While tough, it recognises that the funding and support we give to Olympic and Paralympic sport is a crucial element of the nation’s London 2012 ambition.’
??’Ministers have been clear throughout the process that they see the continued support of sports and athletes through to London 2012 as a priority, and this reduction will not have any significant impact on our goals.’
George Osborne also delivered a huge blow to the Department of Culture, Media and Sport as he announced its budget will be slashed from £1.9bn to £1.1bn as part of the wide-scale cuts.
??However, The funding for the 46 sport governing bodies ahead of the Games also avoided any cuts.
‘As a country, we are paying out in debt interest payments every day the entire UK Sport exchequer payments for a year,’ said sports and Olympics minister Hugh Robertson.
