Is it time to cancel the Olympics?

[Simond001]

With the countries fortunes descending by the day, is it time that we pulled the pug on the 2012 Olympics.

It would appear to me that with the country bankrupt, the last thing we need is to further borrow to provide a showcase event that has no benefit to the taxpayer. The cost to provide far outweighs the income with the only benefactors large corporations.

[Nolar Dog]

It's time to call it off but it will never happen.

[Iain328]

In relation to the other crap that's going on the cost of it is peanuts. People should stop worrying about it, get on & do it properly & spend more time dealing with the real problems we have (IMO!)

[Simpo Two]

Iain328 said:

In relation to the other crap that's going on the cost of it is peanuts. People should stop worrying about it, get on & do it properly & spend more time dealing with the real problems we have (IMO!)

The first thing to do when you're going bankrupt is to stop spending money.

[simonrockman]

I've no interest in the sports but spending money is the traditional Keynsian way to stimulate growth, what surprises me is that a Labour governmet is smart enough to see that.

Simon

[alfabadass]

If they could conduct one during the great depression, I'm sure a stty credit crunch won't stop it. Plus with all the billions being burned on st, I dont think we'll miss a billion or two.

Plus we'll make the money back in tourism and all that crap.

[NiceCupOfTea]

Too late for that - it should have been binned a long time ago. Billions would go down the pan if we canned it, and it would be very, very embarrassing for the country. There is absolutely no way it will be cancelled.

The next government will have to pick up the pieces.

I just desperately wish that we had never succeeded with our bid. It is costing us an absolute fortune just when we can't afford it.

[BlueCello]

Well, we would recouperate quite alot back if we went ahead. BUT, we need to spend more to just get to the point of holding it, so I can't see it really working....

[GreenV8S]

Iain328 said:

In relation to the other crap that's going on the cost of it is peanuts. People should stop worrying about it, get on & do it properly & spend more time dealing with the real problems we have (IMO!)

They're projected to cost around £9,000,000,000. That's far from peanuts and I think there are better things to do with the money than waste it on political vanity. If the UK tax payers were asked to make a voluntary contribution to fund them, how much do *you* think would be collected? My guess would be not enough to pay for the TV ads let alone the event. It's a colossal waste of resources.

[Iain328]

Simpo Two said:

Iain328 said:

In relation to the other crap that's going on the cost of it is peanuts. People should stop worrying about it, get on & do it properly & spend more time dealing with the real problems we have (IMO!)

The first thing to do when you're going bankrupt is to stop spending money.

In many cases, absolutely so. ID cards etc etc etc

I think the problem with this one is firstly what's already spent or committed and secondly the nature of the thing in itself. There are many things that really could be scrapped, but I'm not convinced this is one of them in reality.

[Uhura_Fighter]

simonrockman said:

I've no interest in the sports but spending money is the traditional Keynsian way to stimulate growth, what surprises me is that a Labour governmet is smart enough to see that.

Simon

Does appear to be a lot of public money spent building a new footy ground for the Orient though
Link to BBC


Link to wiki

[bobthemonkey]

simonrockman said:

I've no interest in the sports but spending money is the traditional Keynsian way to stimulate growth, what surprises me is that a Labour governmet is smart enough to see that.

Simon

Indeed. Also canceling it at this stage would make us an international laughing stock.

[Simpo Two]

simonrockman said:

I've no interest in the sports but spending money is the traditional Keynsian way to stimulate growth, what surprises me is that a Labour governmet is smart enough to see that.

What they failed to realise is that you need to have the money before you can spend it. Borrowing money you haven't got, to create illusory jobs to build things that aren't actually needed, is sheer folly.

Anyway, I hear that it's going to take 20 years to claw back the tax-money Brown has spent recently, so I guess he can borrow some more and make it 30 years, then 40, then 50...

[elster]

bobthemonkey said:

simonrockman said:

I've no interest in the sports but spending money is the traditional Keynsian way to stimulate growth, what surprises me is that a Labour governmet is smart enough to see that.

Simon

Indeed. Also canceling it at this stage would make us an international laughing stock.

True with other countries thinking we can't even hold a simple sports event, they wouldn't even bother with us with anything else.

Also it wont get cancelled, so no point really discussing it.

[mybrainhurts]

Cancel it now, it's served its purpose....

Making Chirac angry...

Which was nice sublime...

[Police State]

Simpo Two said:

simonrockman said:

I've no interest in the sports but spending money is the traditional Keynsian way to stimulate growth, what surprises me is that a Labour governmet is smart enough to see that.

What they failed to realise is that you need to have the money before you can spend it. Borrowing money you haven't got, to create illusory jobs to build things that aren't actually needed, is sheer folly.

Anyway, I hear that it's going to take 20 years to claw back the tax-money Brown has spent recently, so I guess he can borrow some more and make it 30 years, then 40, then 50...

how much more?...

The government will have to borrow £100bn more than anticipated during the recession, the Confederation of British Industries (CBI) says.


http://news.bbc.co.uk/1/hi/business/7891514.stm

[Ordinary Bloke]

bobthemonkey said:

simonrockman said:

I've no interest in the sports but spending money is the traditional Keynsian way to stimulate growth, what surprises me is that a Labour governmet is smart enough to see that.

Simon

Indeed. Also canceling it at this stage would make us an international laughing stock.

Like we aren't already?

[ipitythefool]

You missed an option:

Cancel the Olympics and spend the £9bn on some other crap.


This is a government we are talking about here remember.

[bobthemonkey]

Ordinary Bloke said:

bobthemonkey said:

simonrockman said:

I've no interest in the sports but spending money is the traditional Keynsian way to stimulate growth, what surprises me is that a Labour governmet is smart enough to see that.

Simon

Indeed. Also canceling it at this stage would make us an international laughing stock.

Like we aren't already?

Valid point!

[FourWheelDrift]

The government is just putting money into the UK economy with the Olympics and has created a lot of jobs. It's been budgeted for and if we were to cancel it we would become a laughing stock, if we aren't already. I wouldn't be surprised if there wasn't something in the agreement with the IOC that says you can't pull out anyway.