New Clause 1 — Limit on Power of Greater London Authority to Raise Money from Council Tax for Expenditure on London Olympics

Part of Orders of the Day — London Olympics Bill – in the House of Commons at 4:45 pm on 6 December 2005.

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Photo of Andy Reed Andy Reed PPS (John Healey, Financial Secretary), HM Treasury 4:45, 6 December 2005

The Opposition have tabled a new clause and it is only right for us to respond. Indeed, I am delighted to do so.

There are other questions about funding. We know that 50 per cent. of the £1.5 billion from the lottery will come from existing lottery funds, and the other 50 per cent. from the new lottery game. Another £250 million is to come from the London Development Agency. It is bound to be difficult to raise the desired amount. So, if the money is not going to come from the London council tax payer, which other funding body will it come from? It is absolutely necessary that we have that information before we vote on the new clause.