Wednesday 22 November 2006

Seven Billion plus VAT

The papers were saying the cost of the Olympics could be 8 billion. Tessa Jowell admitted costs were rising, but said they would be "only" 3.3 billion.

A 4.7 billion disparity. Which figure is right?

Today's Times suggests that they both are, sort of.

Tessa's 3.3 billion doesn't include the security costs, or the billion for "regeneration" (which means building a load of flats and facilities for the athletes, some of which with luck will be usable afterwards.)

These costs bring her 3.3 up to 7 billion.

And then there is VAT on top of that.

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