Credit crunch could affect Olympic Games funding

  TopCat® 15:22 02 Oct 08
Locked

The developers borrowing funding may need government guarantees before banks will release money. This should feature highly on the agenda when the 'Olympic Board holds its first meeting since the Beijing Games in London on Thursday.' TC. click here

  GANDALF <|:-)> 15:33 02 Oct 08

The Olympic Board can ram it as far as I'm concerned. If we are in an economic mess, which we are, the Government can forget helping a bunch of sports people for a 3 week jolly which has no discernible, long-term fiscal/economic benefit. Let the Olympic Committee fund it themselves. If the population of the UK has to tighten their belts then so have the Olympic Games-end of story.

G

  sunny staines 16:11 02 Oct 08

should have left it to a richer country to host or have a permanent site.

  tigertop2 17:00 02 Oct 08

The London Olympics is a cross we are all going to have to bear whether we like it or not-but don't imagine for a moment that we won't see more attempts to raid national lottery funds. I note that the forecasts of business funding for the opening and closing ceremonies is still pretty vague. Hardly surprising in the current climate

It all started to go wrong when atheletes decided that a grass track and tents in a big field was not good enough. It is less about sport and more about commercial gain these days. I like sport in every form but things are out of control. C'est la vie.

  Forum Editor 19:22 02 Oct 08

sharing a country with so many other glass half-full people. No wonder we're a shadow of our former selves on the international stage.

  tigertop2 10:17 03 Oct 08

FE. Sorry to disagree. I think the mood of many people north of the London area ranges from cynical to downright angry about the amounts of public money being thrown at this sporting extravaganza. Memories of gross overspends on the Millenium Dome and the Scottish Parliament building are still raw images in the public mind. British Goverments have a poor track record financially on big projects. I see nothing to assure me so far that the London Olympics will be any different. Even now the published estimates are no firm guarantee that the final bill against the public purse will not be much bigger
As to our image on the international stage I believe we could improve on that in many better ways than chucking money at a 3 week sporting event.

Not often I disagree with your views and maybe your tongue is firmly stuck in your cheek. I remain of the opinion all is not well with the finances of the 2012 Games.

  Forum Editor 16:23 03 Oct 08

No need to be sorry, you're perfectly entitled to disagree with me.

The fact that so many people seem bitterly opposed to the fact that we're hosting the Olympics just means that there will be more seats at the opening ceremony for me and my friends - all the anti-olympic people will of course be staying away.....

  cluckinbell 16:28 03 Oct 08

Yes, lets pull the funding on the Olympics now, thats a magnificent idea and will really show the rest of the World that the UK is a great place to do business with.

How does it go? 'Eyes raise'

  GANDALF <|:-)> 18:09 03 Oct 08

What you singularly seem to be oblivious of is that if the whole of the UK has to pull in the reins to help the banks then this should extend to all areas. The amount of business funding for the Olympics will be a shadow of what it could have been so where do you, O mighty financial sage, expect to get the money from? I await your replies with some relish.

'thats a magnificent idea and will really show the rest of the World that the UK is a great place to do business with'..don't know about your world but I would rather do business with a country that has a radical and effective fiscal policy that is aimed at strengthening the foundations than one that throws money away on some dancers and sports people.

Confidence and show is what got us into the sorry position that we are in and you should have learnt by now that you cannot trade either for anything but kudos.

It would appear that some people never will learn about basic, effective economics./sigh

G

  AL47 19:56 03 Oct 08

the amount the olympics will cost is disgusting, the corruption i it is ridiculous!

as someone said, why does it need this much money? it doesnt!

the cost per person paying tax is fairly large! hundreds of pounds i think, even taking into account lottery etcc funds, its just something we dont need, especially at this time!

id for one, rather have that money to improve the swimming pool down my road or have the price/swim reduced, this is alot of money for little benifit,

reduce the cost of gyms/pools, isnt that a better way to encorage people to get fit?

  cluckinbell 13:08 04 Oct 08

'the corruption i it is ridiculous!' Really? And who are you accusing of being corrupt?

Gandalf - never claimed to be a finnancial sage, but i do know more about the olympics and its funding than you have gleaned from the rags.

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