Why should London pay....
at 23:56
...predominantly for the Olympics, was question two on Question Time tonight.
Well, despite the news over the past couple of days that tourism might suffer in the years around an Olympic Games coming to town, ultimately the real beneficiaries are those who own land in Olympic cities.
If Londoners don't pay the greater share, they will benefit disproportionately from the tax donations of other parts of the country. Rent seeking, it's called. And it happens wherever new infrastructure is paid for by people far away from those who benefit most from it.
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Oh! I completely agree. Council Tax increases across London are the most haphazzard way of doing it. And saying that London (as a whole)" if you like should bear an equal part of the burden is indeed bollocks.
The point on Question Time was that the whole country should be paying in pretty equal amounts as a "London versus rest of country" type division.
I'll bet the biggest gainers have already walked away with their tidy profit - the Reubens.
Based on land value however, the greater proportion would be paid for by the people who gain most out of increases in their property value."
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But does west London benefit from what is essentially an East London project?
Even here in North East London it is hard to see what gains will be had from the Olympics beyond the local council foisting unneeded amenities on the bourough rather than actually providing things which are needed.
I have no objection to those who benefit from the developments paying towards it, but it is hard for many londoners to see what they'll gain from the Olympics.