Conned Again!

jambutty · 24-02-2007, 13:21

The latest estimate of the cost of hosting the 2012 Olympics hasn’t just doubled but it is reckoned that the cost will quadruple. Ken Livingston denies that Council Tax will be used to provide the shortfall. So where is the money coming from?

First Coe didn’t include any VAT in the estimate and now the cost is escalating out of control. He claims that not including the VAT was a mistake because he thought that VAT would not be charged. Thought? Why didn’t he find out? Or was it a case of not including VAT in the estimates so that the public would be conned into supporting the Olympic bid.

Would anyone have supported the bid if it were known at the outset that the total cost would be some 8 BILLION POUNDS?

This http://www.timesonline.co.uk/tol/sport/london_2012/article1329502.ece says it all.

Neil · 24-02-2007, 15:38

No I would not have. The NHS could have wasted £8 billion pounds and not managed to improve anything but at least we would have thought it was a better idea.

garinda · 24-02-2007, 15:38

Quote:

Originally Posted by jambutty

Would anyone have supported the bid if it were known at the outset that the total cost would be some 8 BILLION POUNDS?.

I heard the new estimated cost to be 9 billion pounds. But what's an odd billion between friends?

http://news.bbc.co.uk/1/hi/uk_politics/6391075.stm

Although it was seen as a bit of a coup when London's bid won the games for 2012, I can't see any real long term benefits for the country when the fortnight's games have finished. True parts of east London will be rejuvenated, but since the south east is the richest part of the country anyway, will the other fifty million people outside of London see any benefits? No, in my opinion.

As for the cost, it wouldn't suprise me if the estimated 9 billion doubles in the next five years until the games.

It's begining to make that white elephant the Millenium Dome, seem like good value for money.

jambutty · 24-02-2007, 17:23

I tried to err on the side of sanity garinda.

It has also been reported that the ‘games committee’ will be raiding the National Lottery Good Causes Fund to the tune of – wait for it - £1.5 billion.

Maybe I’m missing something here but since when has an international sporting occasion been a ‘good cause’?

How come £1.5 billion is still available and has not been distributed to REAL good causes?

lancsdave · 24-02-2007, 17:29

The element of money from the National Lottery is being raised by a special game where people can buy or nor not if they want to support the Olympics.

jambutty · 24-02-2007, 17:38

OK! That’s fine as far as it goes.

But I wonder, what if the money raised by this special game does not meet the expected targets? Would anyone like to hazard a guess where the shortfall will come from?

garinda · 24-02-2007, 17:41

Quote:

Originally Posted by jambutty

I tried to err on the side of sanity garinda.

It has also been reported that the ‘games committee’ will be raiding the National Lottery Good Causes Fund to the tune of – wait for it - £1.5 billion.

Maybe I’m missing something here but since when has an international sporting occasion been a ‘good cause’?

How come £1.5 billion is still available and has not been distributed to REAL good causes?

It was always planned when the bid was entered that some of ther funding will come from the lottery. Where the rest of the massive shortfall is coming from is anyone's guess, though I suspect it will be from the tax payer.

garinda · 24-02-2007, 17:50

£9 billion minus £750 = quite a shortfall.

http://www.natlotcomm.gov.uk/client/...?ContentId=233

SPUGGIE J · 24-02-2007, 18:20

Well thats what happens when you undercut the opposition whithout due consideration of costs. Did they take into account APR inflation etc for the price they set? As for the national lottery Olympic Lottery games and the Sports Lottery Fund means those who play the lottery are paying for someones arrogent underestimation of costs.

Mancie · 24-02-2007, 19:21

Quote:

Originally Posted by jambutty

OK! That’s fine as far as it goes.

But I wonder, what if the money raised by this special game does not meet the expected targets? Would anyone like to hazard a guess where the shortfall will come from?

Whatever mayor Ken says I'ts a pretty good bet that any shortfall will in the 1st instance come from even more of Londoners council tax, more lottery money, and if all else fails money from whichever Goverment is in power the future (general tax payers money).

I has been said that in the long run the Eastend of London will benifit from the games.. there maybe more sports facilities available after the games (sounds great, billions spent on a running track and new swimming pool) but it is houses that are needed most in London, affordable homes that could have been built on this land at a fraction of the cost and even some profit made.

Crabby · 25-02-2007, 09:15

Quote:

Originally Posted by jambutty

I tried to err on the side of sanity garinda.

It has also been reported that the ‘games committee’ will be raiding the National Lottery Good Causes Fund to the tune of – wait for it - £1.5 billion.

Maybe I’m missing something here but since when has an international sporting occasion been a ‘good cause’?

How come £1.5 billion is still available and has not been distributed to REAL good causes?

Real good cause !! Would that be Opera, The art galleries in fact anything that the so-called upper classes like but costs shed loads of money that they wont pay. God forbid that they would donate the money to actual CHERITYS that matter.

lazeeboy · 25-02-2007, 09:18

conned you bet when all these spectators come to britain how many will go back home????????????

SPUGGIE J · 25-02-2007, 16:15

Quote:

Originally Posted by lazeeboy

conned you bet when all these spectators come to britain how many will go back home????????????

What a cynic.