London Olympics Bill

The Olympic surcharge will start in April 2006, and Londoners will pay between £13.33 for a band A dwelling and £40.00 for band H. Some 69 per cent. of Londoners are in bands A to D and they will pay between £13.33 and £20.00, and 31 per cent. will pay between £24.44 and £40.00. As Conservatives, we entirely support the principle that Londoners should make a contribution to the financing of the games. There are four main reasons for that. London is the host city, so it is likely to benefit most from tourism and promotion; London businesses will undoubtedly benefit enormously; the east end of London will be regenerated; and Londoners will have the world’s greatest sporting event on their doorstep. It is therefore perfectly reasonable that they should make a financial contribution over and above the remainder of the United Kingdom. In short, we accept the figure of £625 million and signed up to it at the time of the bid.