GOVERNMENT ‘SMASH AND GRAB’ MUST BE STOPPED
February 5, 2007 1:16 PM
According to the Big Lottery Fund North Devon could lose over half a million pounds in lottery funding if the Government uses it to bail out the Olympics.
'I for one am not happy about the Government's potential second Olympic "smash and grab" from the Big Lottery Fund,' says Nick Harvey. 'The BLF provides welcome assistance to many charitable organisations throughout the southwest.'
The Government has already dipped into the lottery to the tune of £750m, and is raising another £750m through Olympic scratch cards. Now to make up for the £900m shortfall in Olympic funding the Government may seek an additional $450 million. If this happens the BLF will suffer a £300m charity funding loss and the lottery contributors will have provided almost £2bn toward the Olympics.
'I am reliably informed,' says Nick Harvey, 'if the Government uses the BLF to bail out the Olympics again this will equate to a funding loss of around £700,000 per constituency - the net result will be that a lot of small local charities will miss out.'
Despite Government denials it has been alleged that the Commission on Unclaimed Assets may use dormant bank accounts to off set this. From assets of £400m up to £150m will be allocated to the new Social Investment Bank to assist charitable and voluntary groups - the Government argues this is not designed to compensate for the BLF.
'I find it morally objectionable that the Government sees fit to raid the BLF to compensate for its own financial failures over planning for the Olympics,' says Nick Harvey, 'I have signed an Early Day Motion censuring the Government over this. I find it equally objectionable that the Government is proposing to raid dormant bank accounts to compensate for its shortcomings over making long term provision for the voluntary and charity sector - especially when such groups often fill roles that should be conducted by local government.'
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