§ Mr. Peter Ainsworth
To ask the Secretary of State for Culture, Media and Sport if he will publish the revised business plan and budget of the New Millennium Experience Company. 542W
§ Janet Anderson
[holding answer 8 June 2000]: The New Millennium Experience Company's (NMEC) current business plan is based on 6 million revenue-generating visitors. Should visitor numbers fall below this level the business plan will need to be reviewed. Details of the business plan are commercially confidential. NMEC's most recent budget, contained within the business plan, is as follows:
- Project Lifetime Expenditure Dome structure and associated infrastructure—£271.2 million
- Set-up costs, Staff, Accommodation, IT, Legal and Corporate Services—£55.4 million
- Commercial, Communications and Marketing—£42.7 million
- Exhibits and Attractions—£240.2 million
- Operations and Running costs in year of operation—£104.6 million
- National Programme; Projects (£37.3 million) and Programme Support (£9.9 million)—£47.2 million
- Project Lifetime Income
- Millennium Commission Grant—£525 million
- Commercial Income—£86 million
- Sponsorship Income—£123 million (excludes sponsorship by Ford and BT who have designed, built and funded their zones)
- Legacy; Sale of Dome—£30.0 million (as budgeted prior to the Legacy competition commencing. Original 1997 budget provision of £15 million was on the basis that the Dome would remain on-site for one year only).
Total budget is £758 million plus an additional £3 million granted by the Millennium Commission to enhance marketing of the Millennium Experience.