What will be the legacy of the London Olympics?

[10ClarionSt]

So, Mr. Cameron, what do you think the legacy of the London Olympics will be for the people of Britain? I have absolutely no doubt, that future generations of British people will be buying Andy Murrays instead of Ruby Murrays. This will kick start the fast food sector and stimulate the economy in that area, plus of course there will, subsequently, be plenty of wind to help with the energy crisis. One other factor will be that the games have come in vastly over budget. This is going to hurt everyone. Gold medals come at a cost, so there will be rises in income tax, VAT and National Insurance and various other taxes. The British people have had their pleasure. Now they're going to pay.

[Hopkirk]

The vision of Jessica Ennis will be burnt into everyone's minds.

[factor-fiction]

How much over budget? Unless it's tens of billions it won't by itself necessitate 'rises in come tax, VAT and National Insurance and various other taxes'

[factor-fiction]

An increase in national pride? More interest in sports such as Cycling? I see the FTSE has increased quite a bit since the Olympics started. Increases in overseas investment in the UK and tourism here I hope

[mushroom25]

morrissey doesn't reckon the olympics either...... :-0

http://true-to-you.net/morrissey_news

[ABerrant]

Why is this accusative question aimed at Mr. Cameron?

[divegirl]

And we care what Morrisey thinks because ...?

[Arksided]

I wondered that as well? (toward Cameroon) It will go (I believe it already has gone) over budget
I know that Londoners were supposed to pay for it out of their own taxes, but surely this was coming towards the Team GB (Home nations) to foot the bill.

I'm enjoying the games thus far as for the lagacy ... well "get your mugs here, no chips on this one honest"

[DaisyNonna]

We pay anyway. Those who can afford it avoid paying tax. MPs fiddle their expenses. Gas and electricity companies fleece us. VAT has always been a rip-off. Who decides what is a necessary purchase?
The lad at the checkout yesterday asked me how Jess Ennis was doing. We care. Youngsters are being encouraged to emulate their heroes and heroines.
I am being entertained, educated and loving the feel good factor.
You want your pleasure free? Try m----------g

[ABerrant]

Cities bid for Olympics not countries. National governments must sanction the bid but the candidate city is supposed to raise the funding for the event.

The original pre-bid budget (2004) was calculated at £2.38bn of which:

£1.50bn - National Lottery
£0.63bn - local taxation of London residents
£0.25bn - (if required) London Development Agency

exclusive of security, medical and other Government-related services (and for some reason exclusive of VAT!)

http://www.london2012...-response-english.pdf


The ODA accounts of March 2012 placed funding levels at:

£1.65bn - National Lottery (up 10%)
£0.66bn - London [GLA & LDA] (down 25%)
£0.04bn - Sport England (New Entry)
£4.42bn - Central Government (New Entry)

http://www.london2012...dAccounts_Neutral.pdf

[DaisyNonna]

Who does morrissey think he is? Complete cr@p.

[factor-fiction]

Thanks 10clarionst for reminding me that I'm still young with your 'grow up' comment. Actually I put 'national pride?' with a question mark, but I do think this country has things to be proud of, including the organisation of the games and the good attendances so far. These things are difficult to quantify but there is no doubt in my mind (albeit still immature) that there are some positives.