2012 Olympic Issues affect Lotto funding
Last Updated: Thursday 24th September 2020, 15:47
Today we ask if even more pressure is to be put on the lotto after more issues with funding for the 2012 Olympics. Since the Coalition government came to power they have been seeking ways to slash public spending, and cutting the budget for London 2012 may be one way of clawing back some cash into the public purse. The Lotto good causes fund has already made a huge contribution to London 2012 with millions diverted from other good causes plus exclusive scratchcards and other fundraising for the games.
It was Thursday when Britain’s Sports Minister, Hugh Robertson stated that he could not guarantee that the Olympic budget would not be cut when the governments public spending review begins in the autumn. He states that the nation’s finances are dire and the Olympic games will be not be immune to any cuts that are made.
The lottery good causes fund pays a huge amount, from the sale of lottery tickets, into the Olympic 2012 fund and this cut by 23%, the amount needed from the public purse, however the overall public sector budget for the Olympic games is over £9 billion, an amount that need to come from somewhere.
Thankfully the sale of lottery tickets helps a great deal and that is one way you can ensure you keep putting money towards good causes in the UK, and increasing your chances of becoming an instant millionaire at the same time.
The next UK Lotto draw is on Wednesday evening and the estimated jackpot for that draw is £2.5 million.