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Until the end of February 2006 the Government is consulting on the size of the share heritage will receive in future (currently one-sixth of the funding for good causes). Their decision will be announced in summer 2006.
A number of other factors will also have an impact on the amount we will be able to award in new grants during the lifetime of our next Strategic Plan 2008-2013:
the London Olympics 2012 (which will reduce the amount of money going to all the good causes);
the proposed change in the way interest is distributed; and
our approach to over-commitment.
Since the start of the National Lottery we have committed more funds in new awards each year than we have received in income – on the basis that there would inevitably be a time lag between money being received, awarded to projects and drawn down by grant recipients. During 2005-2006 we plan to award around £330 million, £100 million more than we expect to receive in income.
But we are reaching the point where we cannot continue to over-commit. Throughout the next Strategic Plan period we will only be able to distribute the amount we receive in income each year – around £200 million.
We will still be by far the largest UK funder for heritage. But even if we retain our current share of good causes income, this drop in the amount we can distribute each year will mean extremely hard choices. What is more, as new audiences are brought into the heritage debate, the demand for funding to support the heritage legacy grows steadily. Demonstrably, our present share of funding has left vital tasks still undone: this fact must guide government thinking about the future allocation to heritage.
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