This inquiry arose from the Committee's belief that any benefits of the 2012 Olympic and Paralympic Games should be felt in Wales and not only in London and the South East of England. The Committee cannot yet conclude whether Wales will benefit from the 2012 Games. Few events will be held in Wales and it is not predicted that Wales will benefit greatly from tourism generated by the Games. An opportunity was missed in the original bid to locate events in Wales particularly in respect of mountain biking and canoeing. In retrospect, it now seems misguided to build expensive new venues when such facilities exist in Wales. Lottery funding will be diverted from Wales to fund the Games, with a loss of an estimated £100 million, which will have a long-term effect on grassroots projects with a reduction in the number of new facilities built and possible problems in maintaining current structures. The Government has launched the London 2012 Business Network and CompeteFor, but there Welsh companies currently only account for 2 per cent of all the total number of registrations on the CompeteFor network. The most obvious benefit to Wales arises from the fact that the Olympic and Paralympic Games in London provide a unique opportunity to generate interest in sport amongst children and young people. Disability sports is a great success story for Wales and the community programme ensures that there are opportunities for children and young people with disabilities. It is important that all sections of Welsh society are engaged with the Olympics and Paralympics and its ideals.