Olympic and Paralympic Games 2012
Debate between Viscount Younger of Leckie and Lord Wigley
Lord Wigley
To ask Her Majesty’s Government what is the current estimate of the outturn cost to HM Treasury of the London 2012 Olympic and Paralympic Games.
Viscount Younger of Leckie
It is clear that the Olympic and Paralympic Games this summer were a great British success story. Much credit should go to all those involved in the complex planning, organisation and implementation of these events. Following the post-bid review of costs, we announced in 2007 a total public sector funding requirement of £9.3 billion. Our quarterly report in June 2012 showed that we were below budget, with £476 million remaining in uncommitted funding. We await the October report, due out soon, and there is every reason to believe that we will remain below budget, so we still expect the total outturn cost to be less than £9 billion.
Lord Wigley
My Lords, in wishing the Minister well with his new responsibilities, I concur with his sentiments and those expressed yesterday about the undoubted success of the Olympic and Paralympic Games in London. I congratulate all concerned, particularly the Paralympic competitors, who taught the world to maximise personal achievement, despite handicap, through their own endeavours.
As the next major international athletic competition in the UK will be the Commonwealth Games in Glasgow in 2014, will the Minister confirm that the same principle of direct Treasury financial support will be given to the Glasgow games as was given to the London Olympics? Likewise, will he confirm that, in the event of the 2026 games coming to Cardiff, they can work on the same assumption?
Viscount Younger of Leckie
I thank the noble Lord for that question. I do not have any details, looking ahead, of those particular events. I do not believe that we are quite at that stage. However, I will absolutely keep the noble Lord’s sentiments in mind and will return to him when I can.