11 Billion, and still counting.

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Just seen on Sky T.V. That the Olympic Games has cost 11 Billion GB Pounds, and may well be higher. This is for an event that will last for just 17 days. Is this worth the money, when it could have been spent on better things?. Jim. Lincoln .7
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Probably not in my opinion and I can think of lots of things to spend the money on, the Vulcan maybe get a concorde airworthy the list is endless. or you could give every one in the country about eighteen hundred pounds:) Louie

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And how much of that came from the nation's tax coffers, and how much from the sponsors? And how many residents, in this country, will be able to use, and visit functions at, the facilities which will remain after the Games are a distant memory? Or are these questions that the less cynical of us are not allowed to ask?
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The money doesn't disappear. Unless it was spent with foreign contractors it will have provided business for UK suppliers, jobs, income. All of which are taxed, so a large proportion of it comes back to the treasury. The faster money circulates the better. I am not even remotely interested in the Games. But they cannot be a bad thing for the economy long-term. Moggy

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The money doesn't disappear. Unless it was spent with foreign contractors it will have provided business for UK suppliers, jobs, income. All of which are taxed, so a large proportion of it comes back to the treasury.
While I agree with the sentiment Moggy, I would be interested to see exactly how much of the "11 Billion" has actually gone back into UK economy, and how much has gone elsewhere such that UK plc /HMRC see no benefit from it whatsoever....;) No doubt the IOC and all it's hangers-on needs to be funded, and I doubt much of that outlay ends up benefitting UK. :( I would be interested to know exactly how much of the final total (whatever that may turn out to be) has been funded by UK government (both directly and, indirectly, via various govt funded "bodies" and grants). I also wonder what will happen to all the jobs "created" out of the games once they are over - I guess some construction jobs will remain for a while as the top tier of the main stadium is dismantled, and a few groundsmen/security heads until new owners take over the "legacy", but I fear the vast majority employed up to and during the games will soon find themselves looking for work (and some may well return overseas from whence they came)? Will we see a hike in the UK unemployment figure this autumn? :(
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Just seen on Sky T.V. That the Olympic Games has cost 11 Billion GB Pounds, and may well be higher. This is for an event that will last for just 17 days. Is this worth the money, when it could have been spent on better things?. Jim. Lincoln .7
NO.
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While I agree with the sentiment Moggy, I would be interested to see exactly how much of the "11 Billion" has actually gone back into UK economy, and how much has gone elsewhere such that UK plc /HMRC see no benefit from it whatsoever....;) No doubt the IOC and all it's hangers-on needs to be funded, and I doubt much of that outlay ends up benefitting UK. :( I would be interested to know exactly how much of the final total (whatever that may turn out to be) has been funded by UK government (both directly and, indirectly, via various govt funded "bodies" and grants). I also wonder what will happen to all the jobs "created" out of the games once they are over - I guess some construction jobs will remain for a while as the top tier of the main stadium is dismantled, and a few groundsmen/security heads until new owners take over the "legacy", but I fear the vast majority employed up to and during the games will soon find themselves looking for work (and some may well return overseas from whence they came)? Will we see a hike in the UK unemployment figure this autumn? :(
Hopefully much of the foreign labour will ****** off.

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...or you could give every one in the country about eighteen hundred pounds.
You’ve corrected your spelling.....but your maths still needs some work! ;)
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£178.28 assuming, as I guess, we are using the wimpy US billion. Moggy

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Sorry about that I used a proper billion:D money just dosnt go as far as it used to! Unless you work for a bank of course:eek:
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Sorry about that I used a proper billion
In that case your maths were even more wildly out. It's still not a bad idea as the majority of the population would doubtless spend it on booze and fags, so the amount that bounced back to the treasury would be greater than from the Olympic build. But regrettably the world and his wife wouldn't then fly to England to watch them self destruct, thus bringing in foreign money as the Olympics will. Moggy
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According to some estimates, the olympics will benefit the economy to the tune of £16.5 billion, so we may be in net profit?
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Much though I loathe the whole idea, the project (stupid, pointless airspace restrictions apart) does seem to have been properly managed. Moggy
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Agreed. In fairness to them the construction was ahead of schedule and below budget, and they have already planned how to use the facilities after the games. They must have brought in a management team from outside the UK :D;)
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This is for an event that will last for just 17 days.
Doesn't the figure also cover the para Olympics as well? If so then it's nearer a month.
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NO.
Whilst I am well aware as to what the word "NO" means, whats your reason as to why you stated that?.It's not very explicit :) Jim. Lincoln .7
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According to some estimates, the olympics will benefit the economy to the tune of £16.5 billion, so we may be in net profit?
If these figures are correct, and assuming they are, where will the excess go?. Jim. Lincoln .7

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Just seen on Sky T.V. That the Olympic Games has cost 11 Billion GB Pounds, and may well be higher. This is for an event that will last for just 17 days. Is this worth the money, when it could have been spent on better things?
Just to put things in perspective; in 2011/2012 the UK PLC will earn about £590billion but we’re planning to spend over £710billion.....and therefore borrow about £120billion (more)! Most of that £710billion will be spent on ‘better things’! ;) Against those statistics is £11billion for the, once-in-a-lifetime, Olympics that big a deal? And that’s if it is all public money and there is no ‘profit’ whatsoever to the UK economy.
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Just to put things in perspective; in 2011/2012 the UK PLC will earn about £590billion but we’re planning to spend over £710billion.....and therefore borrow about £120billion (more)! Most of that £710billion will be spent on ‘better things’! ;) .
Warren, What, as a wild guess, would you say these "Better things " are?.in your opinion. Jim. Lincoln.7

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Well, you didn’t say what you would have rather spent the £11billion on. At a wild guess, I’d say that a lot of the £710billion the UK PLC spent in 2011/2012 went on the NHS, pensions, education, income-support, child-benefit, unemployment-benefit, housing-benefit and so-on... ...but I’m not sure if everybody would think that those were ‘better things’!
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Maybe not current, but gives a reasonable idea of where the money comes from and where it goes... http://engtechmag.files.wordpress.com/2012/04/olympics-2012-budget.jpg
According to some estimates, the olympics will benefit the economy to the tune of £16.5 billion, so we may be in net profit?
http://www.forexlive.com/wp-content/uploads/2011/11/iraqi-information-minister.jpg http://robertgraham.files.wordpress.com/2012/03/russian-1000000-tractors.jpg