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Slump 'could have halted Olympic bid'



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Published Date: 13 November 2008
BRITAIN might not have chosen to bid for the 2012 Olympics if it had known a downturn was around the corner, the minister in charge of the Games said last night.
Tessa Jowell said: "Had the scale of the downturn been anticipated, I am sure there would have been a view from some that this would not be the time to commit significant public expenditure to a project like the Olympics."

However, she added: "The reality is very different. This is precisely the time for this investment to be made.

"It has the potential to be economic gold at a time of economic need."





The full article contains 110 words and appears in The Scotsman newspaper.
Page 1 of 1

  • Last Updated: 13 November 2008 1:14 AM
  • Source: The Scotsman
  • Location: Edinburgh
  • Related Topics: London Olympics 2012
 
1

Scunnert,

13/11/2008 03:54:15
Boycott the London Olympics.
2

Cappo Del Monte,

13/11/2008 06:42:00
Please all you poor, unemployed people, soon to be unemployed people who dream of winning millions on the lottery, keep spending your hard earned to subsidise the regeneration of london ( called the olympics )to help lardy broon get his knighthood.
3

steve 1511,

aberdeen 13/11/2008 07:08:17
tessa jowell another labour eejit who said the olmypics would be a 1/4 the final cost,and now the tax payer is left with the bill.the women should be at home knitting not squandering billions on a labour fantasy
4

Newton_Invented_Gravity,

13/11/2008 07:46:46
There's a bigger story here; A government minister admits that they hadn't a clue that a slump was coming-in fact so arrogant are they that they never even considered the possibility
5

Alternative (High-Octane) Fuel Head,

Edinburgh 13/11/2008 10:03:57
Right. We've now know that a downturn is in progress, so cancel the olympics and let some other country have the expense and inconvenience of hosting them.
6

Warden An' All, Reborn,

13/11/2008 10:30:44
If there is a slump the building process for the Olympics is ideal, as it generates work and spreads money in the local economy where the venues are. This is one of the secrets the American founds worked to fight the great depression in the early part of the last century.
7

Alastair the First,

13/11/2008 13:31:34
Yes, spreads money IN THE LOCAL ECONOMY WHERE THE VENUES ARE. So that's really going to help Scotland then.

Another example of the union dividend.

 

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