CAN WE AFFORD THE OLYMPICS?

From ePolitix.com Tessa Jowell has defended an increase in costs for the 2012 Olympic venues.
The Olympics minister has insisted, however, that the overall budget for the Games remained intact.

The cost of the 2012 venue could be more than 10 per cent over budget, the government admitted in its latest progress report.

Costs for the main venue were capped at £496m in November 2007, but it has risen to £547m according to the new figures.

This is the third increase since London began bidding for the Olympic Games in 2004, when the stadium was priced at £282m.

The government has so far failed to raise the £1.2bn required from private sector investment to fund the athletes' village and the media centre. But Jowell denied that the money would have to come from the taxpayer as a result.

The Olympics is undoubtedly a huge undertaking, which can bring massive good to the East-end of London, and the country as a whole, if the rest of the world comes to the UK to watch.

But what if the rest of the world decides it is too expensive, taking the recession into consideration, and decides to watch it on TV?

What advantages will that scenario bring? Will we be left with a huge building site with facilities that are uneconomical to keep, a village built for the athletes that are unaffordable for the people after the games are over?

Let’s hope that the recession is easing by 2012 and that the world flocks to London, spends Billions and we are left with an asset to the people of London and the rest of the UK.

Only time will tell.

“Winners never quit and quitters never win.” Anon


Angus

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