Big Lottery Fund - London Olympics Repayment

EDM number 518 in 2016-17, proposed by Tommy Sheppard on 11/10/2016.
Categorised under the topics of Charities, National Lottery and Sports.

That this House supports calls for the Government to repay the £425 million that it borrowed in 2007 from the Big Lottery Fund to help fund the shortfall in money needed to pay for the London Olympics and Paralympics; understands that the money was to be paid back when assets, such as the Olympic Stadium, were sold off, which is now being rented out for £2.5 million a year, notes reports that Government Ministers will repeatedly hold off paying back the money until 2030; further notes that, with a reported 10,000 charities missing out on funding since 2007, the Directory of Social Change has set up the Big Lottery Refund campaign on behalf of 3,800 charities and individuals; considers that the Big Lottery Fund needs the money returned more now than ever with the uncertainty created by Brexit, and urges the Prime Minister, the Mayor of London and the Secretary of State for Culture, Media and Sport to urgently review this situation and repay the money owed to the Big Lottery Fund.

This motion has been signed by a total of 32 MPs.