London Olympics Bill

The amendment and the new clause were tabled in my name and that of the hon. Member for Bath (Mr. Foster). Let us be very clear about what is involved here. When a bid was first considered, the Government and the Mayor agreed a funding package of £2.375 billion to help meet the costs of staging the Olympics in London in 2012. That figure was made up of £1.5 billion from the lottery, 50 per cent. of which will come from existing sources and 50 per cent. from the new Olympic lottery games, £250 million from the London Development Agency and £625 million from London council tax payers.