From: House of Commons Public Accounts Committee Report

"Lottery money will be used to fund the 2012 Olympic and Paralympic Games, so the Fund expects its income to fall from £237 million in 2006–07 to around £180 million in 2009–10.

There are however two major areas of uncertainty: the diversionary effect of people switching to Olympic Lottery games; and how much might eventually be recouped when land in the Olympic park is sold following the games.

The Department for Culture, Media and Sport should provide the Heritage Lottery Fund with a frank assessment of when and by how much its income will fall, and its goals and expectations for recouping money from the sale of land, particularly since although the Secretary of State has said that the existing lottery good causes should share in the profits that are expected to be generated from the sale of land in the Olympic Park after 2012, there is no guarantee that the Fund will recoup any of the £161.2 million diverted from April 2009.

The Fund should set out its plans for managing with less income so that potential applicants understand the Fund's priorities."

Extract from: Conclusions and Recommendations, Paragraph 2, House of Commons Public Accounts Committee 54th Report, Heritage Lottery Fund, HC502

Download PDF from: Public Accounts Committee Reports