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Monday, November 19, 2007

The impact of the London Olympics

Those of us who were concentrating on loss of lottery money to Welsh organisations as a result of the funding arrangements for the 2012 London Olympics were in for a shock this morning. It seems that some private sector bodies are reviewing their funding policies as well.

Lloyds TSB has sponsored the Gymanfa Ganu every year since 1979. But they have now told the National Eisteddfod that funding will not continue next year due to the bank’s financial commitment to the Olympics.

There is a real danger that this decision could set the trend for other private sponsors of Welsh national events, arts and sporting projects. Other organisations which are dependent on private sponsorship include the Urdd Eisteddfod, Llangollen International Eisteddfod, Royal Welsh Show, Hay Literary Festival, and Cardiff Singer of the Year to name but a few.

In particular there must be concern that the £6 million shortfall in private sponsorship for the Wales Millennium Centre will not now be met. We need some assurances from the Assembly Government on this issue particularly as there is a danger that in some instances the Welsh taxpayer will be left to make up any shortfall.
On behalf of all us Londoners who never wanted the damn thing in the first place, I'm sorry.

I disagree with state funding of sports and the arts anyway, but now its having an effect on private funding and that is a great shame.

All this to stroke the egos of some politicians... What a waste of money...
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