How much to claim?

[GastonJ]

The UK economy has seen a ?9.9bn boost in trade and investment from hosting the 2012 London Olympic and Paralympic Games, research suggests.
A report by the government department which promotes UK businesses put new contracts, sales and foreign investment in the last year down to the Games.


The report, for the UK Trade and Investment department (UKTI), said the Olympics resulted in:

• ?2.5bn "additional inward investment", 58% of which was outside London
• ?5.9bn additional sales following Olympic-related promotions by the Foreign Office and UKTI
• ?1.5bn high value overseas contracts - such as helping to design venues in other host-nations

Much of the Olympic park and stadium for the Winter Olympics in Russia was "designed and built by British businesses", Mr Cameron told BBC Radio's Test Match Special.
"So there's real jobs, real money in the Olympics if we get it right."

But the claims were met with scepticism by some economists and the Federation of Small Businesses.
Government estimates put the cost of hosting the Games at ?8.9bn.


BBC News - London 2012 Olympics 'have boosted UK economy by ?9.9bn'

So in reality it has generated 1 billion, better than a hole in the head I suppose, but allows the government to claim it's made 10 billion - nothing like wild claims eh. You'd also have to ask although there has been 10 billion in revenue to businesses, how much public money went into the Olympics against the tax revenues of the 10 billion?

Don't get me wrong, the Olympics were good for the UK, but for the government (who weren't involved in the first 5 or so years anyway) to make such claims is stupid to say the least.

[Meat-Head]

Yeah said in radio dogmeat also a generation was created, so all that lot goes out the window to feed the spoungers

[darwins]

This government is full of bulll.. I can not get my head around why on earth we as tax payers need to pay a " Budget of responsability " it makes my blood boil the government should be doing all this stuff instead of a so called independant bodies who simply fudge figures

Idependant does no equal honest when money is involved..

Atleast it is the weekend

[Meat-Head]

so called independant bodies who simply fudge

So at Darwin Motors your accounts HAVE to be done by a charted accciuntant fir vat returns., so show no fiddling

[darwins]

accountants basicaly take a look add a few columns up to see it all tallys then sign it off...

We then sign to say we are responsible for their wotk.. !

Now we vote in goverments so in my mind they should have the staff to do this stuff saving us money

[gc1966]

was reported today that the figure quoted was actually a guesstimate as there was no real way to determine what was supposedly profited.utter fudge

[Snowy79]

They must think we came up the Clyde in a banana boat. I could just see the businesses that have allegedly pumped money into our economy deciding to invest money into the UK due to us holding a sports event. No profit making company in their right mind would decide to invest unless there was money to be made. You could just see the boardroom meeting : Will we invest in Country A who can give us x amount in profit. No bollocks to that lets pump money into the UK as they held the Olympics. Doh

[rds60h]

They must think we came up the Clyde in a banana boat.

Nothing to do with the thread really but my mum used to used the phrase "Do yo think I came up the Clyde on a water biscuit"
So, Thanks Snowy79 as it brought a little smile to my face and revived some great memories.

[Kalipo]

Oh what tangled web we weave once we practice to deceive.