So the total bill is 9Bn. That includes the cost of paying the police and army who would still be paid if they were on barracks in Aldershot or wherever. It also includes building the infrastructure which was desperately needed in a deprived area. It includes the 2Bn needed to run LOCOG which was raised through private companies and 2.2Bn raised from the lottery. Just under 1Bn cones from the Greater London Authority who see it as in investment to benefit Londoners. A further 1Bn has come in from ticket sales.
That leaves 3Bn from general taxation. This is what the UK government spends every 3 hours (roughly) and this has been spent over the last 7 years. Given that there are 40,000 visiting athletes and around 1 million visiting spectators/officials, if they all spend £300 (very easy in a fortnight on food, accommodation etc) then for the country the games breaks even.
It has paid for the huge construction work, employed 10’s of thousands of people, regenerated a deprived area and the Olympic stadium has been delivered on time, and it’s the first Olympic stadium ever built without the loss of a single life.
Sport is great. It brings people together and I for one am really looking forward to watching as much as I can. Despite not being able to get any tickets…