UK Olympic bill

[MonteJon]

Just as all the furore over the current UK financial crisis reaches a peak comes the news that the backers of the UK Olympic build are no longer willing, or able, to foot the bill.
As a poverty stricken citizen I have to ask are the billions required to put on this athletic show really justified in the current climate ?
Do the books really balance out, will the expected revenue from this event match the outlay I wonder ?!
As usual the poor old tax-payer is expected to stump up the money but given that it is for a one-off and will never be repeated I must admit I find it hard to be on-side. I know that there is the supposed good that it does for the country but I wonder if China is really benefiting any longer after it's Olympic show ?
Call me cynical and miserable but I for one would rather see the money, mine and others money, spent elsewhere !
"Bah humbug !". . .

[DavidAllen]

No point moaning now - the Olympics ARE coming to London in 2012. So we have to spend the money whether you like it or not. That said, I understand that 75% of the cost will go towards regeneration of the East End of London - that can't be a bad thing, can it?

[Rock]

Hi Jon/David..
I do agree with you.. The Olympics are way far to go from now, 3 yrs [2012].. I think the current so-called poverty situation won't linger long enough & we'd overcome it very soon.. :D Afterall, hosting the BIG event would definitely be beneficial for us in some way or the other, let the tick speak.. What do you think ?

[DPS Computing]

Yep, I'm sorry but I'd rather bail out the Olympics - to which I am looking forward to, hoping to attend, will regenerate parts of the country and bring us a lot of national pride - than bail out private companies (banks) that can't budget properly, cook the books, rip customers off, get lavish bonuses then take money of the tax payers to sort thier mess out.

It has just come out today that the outgoing RBS chairman - yes the chairman that the government has sacked for incompetance - has gone and spent 10s of thousands of pounds on a party for him and his board members (ie. mates).

And AIG - they might need to borrow billions of the US government to ensure they stay afloat, but $100,000 on a hunting trip is of course a perfectly justifiable expense!!!