DCMS's share of the lottery will increase from 13.7 per cent to 20 per cent over the next four years, bringing an extra £150 million ($236 million) a year into arts, sport and heritage after 2012 to help offset the £300 million ($472 million) that was cut.

Robertson told insidethegames: "To deal with an unprecedented financial deficit we have been forced to make some incredibly difficult decisions.

"But, in the current economic climate, this is a good settlement for DCMS's sectors.

"UK Sport exchequer resource funding has been cut by 28 per cent in real terms by 2014/15 but an increase in lottery funding means they will actually see an increase in their finances over the next two years.

"There will be a drop-off in those funds after 2012 but there will still be sufficient funds in place for the Rio 2016 Olympics and Paralympics.

"It is the same with Sport England, who despite having their exchequer resource funding cut by 33 per cent in real terms by 2014/15, will see an increase in lottery funding and therefore a continued increase in their finances over four years, so they can continue to drive participation up.

"In a sense, it doesn't matter where the money comes from as long as it comes, so it is fair to say that sport has actually received a good settlement."

Robertson added it was a particular boost to see the Olympic budget of £9.3 billion ($14.6 billion) remains intact following concerns it may be reduced.

He said: "We will deliver a safe and successful Olympics in 2012 when the eyes of the whole world will be upon us.

"Protecting funding for elite athletes preparing for 2012 was also a key issue so we are delighted that has happened.

"And by cutting bureaucracy and waste and prioritising the services valued by the public, we will be able to protect our sporting and cultural core for the long term."

The Sports Minister however, did admit he was disappointed to see the Department for Education announce that it will no longer be providing ring-fenced funding for School Sport Partnerships.

The decision was highly criticised by leading children's sports charity the Youth Sport Trust, which labelled it as "devastating", but Robertson said sacrifices would always have to be made in difficult times.

He added: "I will always be bitterly disappointed when cuts are made - particularly to schemes promoting participation in school sport - but I do understand that Michael Gove had to make difficult decisions regarding the best way to promote competitive sport in schools and that it was not an easy decision for him to make."

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