UK Sport has welcomed the announcement that there will be a 29% increase in Exchequer funding in Olympic and Paralympic sport for the Rio 2016 and Tokyo 2020 Olympic and Paralympic Games.
Announced in the Chancellor of the Exchequer, George Osborne's autumn Spending Review, the Government has committed to building on the "success of Olympic and Paralympic Games at London 2012" as the nation goes "for gold in Rio and Tokyo."
Rod Carr, Chair of UK Sport, said: “We welcome the Chancellor’s Spending Review announcement today which included an increase in Exchequer funding recognising the outstanding performance of our Olympic and Paralympic athletes in delivering those amazing medal moments.
"This clearly demonstrates the Government’s continued commitment and confidence in UK Sport’s strategy to deliver results at successive Olympic and Paralympic Games and our world class major events hosting ability, enabling our athletes to continue to inspire future generations and make the nation proud."
Sports Minister Tracey Crouch said: "This settlement recognises the wider value of sport in society and how it plays an important role in boosting the economy.
"The increase in funding will support our elite athletes in the run-up to the 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."
Find out more about how we invest in Olympic and Paralympic sport >