MP Queries London Tax Burden for the Olympics

12.00.00am GMT Tue 4th Feb 2003

Vincent Cable has co-sponsored an Early Day Motion in parliament questioning the proposal that London's bid for the Olympic Games should be financed by a surcharge on London council tax payers and from the Sports Lottery.

Vincent Cable said: "I recognise that there is quite wide, all party support for an Olympic bid. But I am deeply suspicious of the proposals for funding the Olympics."

"Several recent Olympics have been a financial disaster for the cities which hosted them."

"The idea of a bid for the world's premier sporting event and the subsequent organisation being efficiently managed by the Mayor of London and the same government quangos which caused the Millennium Dome and Wembley fiascos makes the mind boggle".

"I suspect people in this borough, who are already groaning under excessive council tax, will revolt when they are told they have to pay through the nose for facilities in the East of London some of which will only be used for 18 days and then demolished".

"I am even more concerned about using the Sports Lottery. When we approach the lottery for valued and popular projects like Hampton Pool we are told they have little money."

"Now it is proposed that hundreds of millions should be siphoned off for an Olympic bid".

"If we are to bid for the Olympics the whole exercise should be taken out of the hands of national and London politicians and government quangos and left to the private sector to manage and finance it."

"The RFU is proposing an ambitious rugby world cup bid without running to the tax payer; why can't the Olympics be run on the same basis?"