£11bn Olympics Benefit Target Met
 

Quote:

Foreign investment and contracts won by UK firms have contributed to the four-year target being reached in just 12 months.

http://news.sky.com/story/1169425/11bn-olympics-benefit-target-met

So all those who said the Olympics were a big waste of money will now be issuing grovelling apologies and finally admitting that the Olympics where a good thing for UK plc

Re: £11bn Olympics Benefit Target Met
 

Ok.

Re: £11bn Olympics Benefit Target Met
 

Indeed but alas l am afraid some of the doomsayers will still say it was a waste of time and not worth it when in my humble opinion it was worth every penny.

Re: £11bn Olympics Benefit Target Met
 

Yep, the doom and gloom merchants got it very badly wrong and I think UK PLC will continue to benefit from the worldwide exposure of the best Olympics yet.

Re: £11bn Olympics Benefit Target Met
 

Went past the olympic village yesterday and it all looks full of busy ,here's an interesting site showing before and after shots

http://www.timeout.com/london/things...d-then-and-now

Re: £11bn Olympics Benefit Target Met
 

I wonder who got richer?

Re: £11bn Olympics Benefit Target Met
 

The report is from the UKTI, not LOCOG.

http://www.ukti.gov.uk/uktihome/home/item/654760.html

Re: £11bn Olympics Benefit Target Met
 

Yes, anyone who hadn't seen what the area was like before 2012 might not appreciate just what's been done there. It's the same with Canary Wharf, in another life I worked on many of the derelict sites and run down areas in that part of London and the transformation has been amazing.

Re: £11bn Olympics Benefit Target Met
 

I believe it is by these chaps

http://www.ukti.gov.uk/uktihome/media/item/654760.html

beaten by Hugh :D

Re: £11bn Olympics Benefit Target Met
 

Did it hurt? :erm: :D

Re: £11bn Olympics Benefit Target Met
 

could be worrying but it was not unpleasant :D

Re: £11bn Olympics Benefit Target Met
 

And the sceptics don't suffer from wishful thinking or agenda pushing?:confused:

Re: £11bn Olympics Benefit Target Met
 

Finally something labour got right then maybe there is hope for them.

Re: £11bn Olympics Benefit Target Met
 

Well they had 13 years trying so were bound to get something right amongst all the lies, spin and failures... :D

Re: £11bn Olympics Benefit Target Met
 

Put it like this, I doubt many who lived there before can afford to live there now :(

Re: £11bn Olympics Benefit Target Met
 

It's the same here after the Cardiff Bay revamp. Though many places were Buy-to-let, so the place is now crawling with unemployed residents who tone the place down again. I doubt they can afford to frequent the local venues and restaurants though... I certainly can't.

Re: £11bn Olympics Benefit Target Met
 

Actually, half of the houses are 'affordable homes' (around 1400).

http://www.east-thames.co.uk/projects

Re: £11bn Olympics Benefit Target Met
 

Does it say that the money spent was the best possible use of the money?

I suspect not

Re: £11bn Olympics Benefit Target Met
 

What is the best possible use of the money? ,also what money are on about ?

The article i linked to is about the benefits of the Olympics to UKplc and the contracts awarded to uk companies on the back of the Olympics build success

Re: £11bn Olympics Benefit Target Met
 

affordable rent can be 80% of local market rent, so I wonder how many people who lived there before can afford to live there now.

Re: £11bn Olympics Benefit Target Met
 

Considering that the area was formerly contaminated land and industrial buildings, I don't think many people lived there before....

Also, nearly half of the Affordable Rents are Social Housing.

http://www.triathlonhomes.com/the-homes/to-rent/

Re: £11bn Olympics Benefit Target Met
 

Mutants maybe? :D

Well they found some of those rare crested newts Red Ken used to bang on about and I don't think they've been compensated for having to move. :)

http://news.bbc.co.uk/1/hi/england/london/7015077.stm

Re: £11bn Olympics Benefit Target Met
 

All we need to do now is chase down the millions G4s Should pay back.

Re: £11bn Olympics Benefit Target Met
 

Does it really matter too much if we get an economic benefit? Surely it was worth it. The Olympics were amazing even if we lost money, you do lose money doing nice things sometimes. The question should be if the cost was worth what you got and it certainly was, imo, with the Olympics. It hard a hard job convincing people who were so set against it but from the Opening Ceremony onwards it was a great success. Even the failure of G4S to be competent turned out to be a good thing since the army did a great job. The Olympic park was an amazing place to be. We did well in the medals. We also had the best Paralympic Games ever. In China they had to give away the tickets and the athletes still mostly played to empty stadiums. Here the tickets often sold out, the events were shown in prime time and all the time.

If you don't think we did an excellent job of hosting the Olympic and Paralympic games you've got a screw loose.

---------- Post added at 00:44 ---------- Previous post was at 00:36 ----------

This is a London-wide problem. People have been buying up London properties as a form of investment rather than a home, especially those from abroad worried about their money. It's a safe and lucrative place to store your money. London is a bit better than the rest of the south east in allowing development, it happens all the time, but now developers target that market rather than the more affordable end. The result is increasing inflation in the London housing market and people being priced out. A lot of London districts are begin gentrified now, look at Tottenham and in the past Shoreditch would be an example.

Money talks. :(

Re: £11bn Olympics Benefit Target Met
 

For the Army to take over some of the duties of G4S was easy, as they didn't have to jump through the various hoops that G4S had to. Eg Security clearance, finding many temporary staff.

Re: £11bn Olympics Benefit Target Met
 

the article is about trying to justify the money spent for the olympics being hosted.

Don't be fooled that it isn't for that purpose.

---------- Post added at 01:26 ---------- Previous post was at 01:25 ----------

the other things they didn't need to worry about...giving an accurate bid for the contract etc

---------- Post added at 01:29 ---------- Previous post was at 01:26 ----------

Are you seriously saying this was the best use of the money?

It was a vanity project, that the government is doing its best to justify.

The few who benefited will be the hogs who organise the olympics (to get their back handers) and the large corporations

Re: £11bn Olympics Benefit Target Met
 

Really? Have they forget to mention how much they lost with the ticketing fiasco? How much the retailers lost while the games were on? Hotels that were half empty. Add all that up and it will take the shine off any made up figure.

Re: £11bn Olympics Benefit Target Met
 

Funny there's loads/ hundreds maybe of people from round there that were moved out to chafford hundred to make way for the olympic park and village and is up to 80% of market rent not what there charging or something, its not clear from your link what your "also" query was about.

Re: £11bn Olympics Benefit Target Met
 

The report is showing that companies have won contracts worth around £11billion as a direct result of the Olympics.The money spent on the Olympics has already been justified

It might help if you actually read it

Re: £11bn Olympics Benefit Target Met
 

I said...perhaps beyond your comprehension so will repeat with simpler words

Is this really the best use of money?

It might help if you actually read before commenting

Re: £11bn Olympics Benefit Target Met
 

and i've asked you what the hell money are you on about ,the article does not mention any money being spent it talks about money being earned from the olympic investment ,so if that is the money you are on about then you missed the boat because that investment is now earning us 11billion a year ,or maybe you would have preferred no investment just ploughing the money into benefits

---------- Post added at 17:53 ---------- Previous post was at 17:48 ----------

I don't think they lost money on the tickets ,the problem with the tickets was the allocation ,they where still paid for and if retailers can't capitalise on an event as big as the Olympics then that is there problem

Re: £11bn Olympics Benefit Target Met
 

I suspect you are the idiot child in the family...but..let's go to basics

Money was spent on olympics...it wasn't good faries who magically made it happen, nor was it donated by wealthy individuals.

Sorry to shatter your illusion.

And, that makes it relevant, if it wasn't the most appropriate way to spend the money.

As to the contracts, are you benefiting from those contracts. Or is it the same tories who benefited from the original spend, now benefiting from these contracts.

As to retailers benefiting from the Olympics? You mean the businesses who were banned from displaying anything about the olympics because it was against the olympics rules. The multi-corporation did well, but they pay a good amount of back handers to the olympic committee members.

---------- Post added at 01:51 ---------- Previous post was at 01:48 ----------

oh, and you must not know how it works.

The game, is to point to everything that happened that could be construed as being because of the olympics, and count that as a benefit. Even if it likely would have happened.

Politics...go figure

Re: £11bn Olympics Benefit Target Met
 

well since you aren't going to bother reading any links posted before commenting i'll do it for you

Note the word "additional" and "new" ,these are contracts EXTRA to what would normally be expected


well you obviously don't ,UKTI is an advisory dept that advises companies on foreign investment ,the figures they are quoting are from the companies that have won the contracts and signed the deals and then reported back to UKTI on the results so they are not just made up numbers by a government dept

Re: £11bn Olympics Benefit Target Met
 

They were given away by the Sponsors Coca Cola and MacDonalds.

Re: £11bn Olympics Benefit Target Met
 

The problem, at least at Greenwich. where I work, is that the local shops and market were told that the Olympics would bring in a massive increase in trade then when it came to the actual event, TFL did an excellent job of getting the spectators to and from Greenwich station, but kept them away from a lot of the shops, and effectively sealed off the major market in the area. As such, most of the shops, and the market, took fairly heavy losses.

Re: £11bn Olympics Benefit Target Met
 

Then i stand corrected .With an operation as large as the Olympics was i can't see how everybody could benefit but as the greater good i still say it was the right to do

Re: £11bn Olympics Benefit Target Met
 

Yes that was a problem but with such a major event I think things like that were always going to happen because things could so easily have ground to a halt and they had to err on the side of caution. In an effort to ensure London didn't grind to a halt, the authorities did such a good job of warning off potential ad-hoc visitors about congestion that quite a bit of trade was lost by taxi drivers, restaurants etc.

Re: £11bn Olympics Benefit Target Met
 

Re: £11bn Olympics Benefit Target Met
 

Don't get me wrong, I understand why they did it, and I suspect, had they not done it, chaos would have ensued. Thankfully I don't work in the market or the shops, so I just got the benefit (assuming you could get in it, the market does excellent food and for those two weeks at least, there was no queues).