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HOT TOPIC: Olympics
Are the Olympics wasteful in a time of economic diffi culty?
The Olympics are drawing ever closer but in a time of such fi nancial diffi culty is it
appropriate (or even possible) to spend so much on what is basically an overgrown sports
day? Or is the chance to host a major international event the shot in the arm the Bristish
economy needs?
To argue why the Olympics are a waste of time and
money, I could do worse than refer to the arguments put
forward by the Economist. Firstly that getting London
in shape may cost “£9 billion- more than twice what we
were originally told, and around £350 for every British
household.” Secondly “only a fi fth of jobs on the Olympic
site have gone to local people” despite promises to
regenerate East London. Lastly, other host cities have
been left with “huge debts and white elephants.”
When Britain won the Olympic bid, Labour was in power
and the economy prosperous. Now we’ve said goodbye to
both Labour and prosperity, perhaps it’s time to consider
whether hosting the Olypmics is still a great idea. When
Greece was struggling to get ready for the Olympics in
time it was brought up on every weekly news satire show
(admittedly there are approximately two of these, but still)
and not in a fl attering way. But then who cares about a little
bit of international ridicule if it boosts our economy, like it
did for Greece... oh wait.
14 nu:life
YES! Only a fi fth of jobs on the
Olympic site have gone to
local people...
Of course, I shouldn’t be fl ippant about another country’s
fi nancial collapse. But isn’t our government doing the same
by ignoring a case where the Olympics obviously did not
completely revitalise the economy and instead contributed
to its collapse?
Now we’ve said goodbye to both
Labour and prosperity, perhaps it’s
time to consider whether hosting the
Olypmics is still a great idea.