Autumn Statement 2015: Great Britain Olympic hopes boosted with 29 pc increase to UK Sport funding
Great Britain's medal hopes at next year's Olympics have been given a boost by George Osborne after the chancellor announced a 29 per cent increase in funding to the UK Sport budget.
"I will help UK Sport, which has been living on diminishing reserves, with a 29 per cent increase in their budget," said Osborne, "we're going for gold in Rio and Tokyo."
UK Sport, the body which funds the country's elite athletes, had feared a large budget cut in Osborne's Autumn Statement that would reduce its medal ambitions at next year's Olympics in Rio de Janeiro.
The Department for Culture, Media and Sport will have its administrative budget trimmed by 20 per cent, but funding to grassroots sports and anti-doping bodies is likely to remain flat.
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Sports minister Tracey Crouch heralded the increase. She said:
The increase in funding will support our elite athletes in the run up to Tokyo 2020 Olympic and Paralympic games, grow the grassroots to get more people involved in sport and promote clean sport in the UK and beyond.
The Treasury also revealed after the 2017 World Championships the government will end income tax-exempt status for overseas athletes competing at events in the UK.
Athletes were granted tax-exempt status in 2013 in a bid to persuade the biggest stars such as Usain Bolt to compete at London's Anniversary Games and the Commonwealth Games.
The government will also back plans to host the 2021 Rugby League World Cup in the "Northern Powerhouse" and the cycling World Road Championships.
Emma Boggins, chief executive of the Sport and Recreation Alliance, welcomed the measures:
We're delighted that government has recognised the importance of sport and recreation with sustained investment in sport at all levels from the podium to the grassroots.
We're delighted to see that the UK will stay the home of world class sport with more major events coming – including cycling and rugby league announced today.