Skip to main content

The most expensive national party ever?




There is a story in today's Times which suggests "little support for the claim that the (Olympic) Games would produce significant economic returns or more people playing sport".

Worst still, the report said that "Leading economists and civil servants commissioned by the Prime Minister’s strategy unit and the Department for Culture, Media and Sport found that the main motivation for staging the 16-day event should be a morale-boosting national party".

Surely, £9.3 billion for a national party at a time when families and businesses will be paying more taxes is something that should be reviewed urgently by this Government.

Certainly, this should become a 'national' Olympics rather than focusing just on London and should use existing facilities across the UK (including the Millennium Stadium and the Newport Velodrome) to get the cost to the taxpayer down.

It would also mean that charities in Wales do not lose out as a result of the large increase in the original budget of £2.4 billion at a time when donations from the private sector are drying up due to the recession.

Comments

Anonymous said…
There is a suggestion that many of the agencies which hand out grants and aid are being stifled to ensure that there is spare money available for the Olympics.

The usual method being to make the claiming process so complex and difficult to comply that the money goes unclaimed.

This money then going into the pot marked London 2012 and no budget has had to be reduced to make it happen!

Well done, Sir Humphrey!

Popular posts from this blog

THE IMPORTANCE OF FRANCHISING

When we talk about start-ups and entrepreneurship, rarely do we discuss the potential of franchising not only as a way of establishing new ventures in the economy but also as a method of growing existing businesses. According to the British Franchising Association, franchising is the granting of a licence by one person (the franchisor) to another (the franchisee), which entitles the franchisee to own and operate their own business under the brand, systems and proven business model of the franchisor. The franchisee also receives initial training and ongoing support, comprising all the elements necessary to establish a previously untrained person in the business. This enables individuals to start their own businesses without having to develop their own ideas and utilising an existing brand and established market. Of course, whilst each franchise business is owned and operated by the franchisee, the franchisor controls the quality and standards of the way in which the business is

Change your business through change

All business organisations, especially entrepreneurial small firms, must cope with an ever changing business environment. However, small firms have a very limited ability in being able to control and relate to changes in the environment, although this can depend on the context of change. For example, if a major customer changes increases its order, the entrepreneur should be able to predict events and actions with regard to the timing and consequences of such a change and forecast any changes in the required resources and cashflow. Given this, the entrepreneur can undertake rational short-interval planning activity in order to underpin organisational control. However, much of the change facing business today is largely unpredictable in terms of its timing and its consequences. In other words, such change is open-ended, with it often being unclear what is changing or why it is changing. For example, the effect of the 9/11 bombing of the World Trade Centre was largely unexpected and its

THE IMPORTANCE OF THE CREATIVE CLASSES

One of my favourite academic books of the last two decades must be the “Rise of the Creative Classes” by Professor Richard Florida.  This was one of the first detailed studies of the growing group of individuals who use their creativity and mental labour to earn a living and not only included those in arts and entertainment, but also people working in science and technology as well as knowledge-based professions such as healthcare, law, business, and finance.  Fast forward to 2022 and Professor Florida has written an updated report on the creative classes although he and his team now identify a different type of individual who is taking full advantage of the growth in digital platforms, social media, and online marketplaces.  Such ‘creators’ are defined as those who use digital technology to make and publish unique creative content, whether in the form of video, film, art, music, design, text, games, or any other media that audiences can access and respond to.  They also make their mon