2 thoughts on “Mr Hammond’s Olympic misunderstanding”

  1. Posted 04/09/2012 at 12:53 | Permalink

    Professor Campbell seems to have overlooked the fact that LOCOG – who he blames for this failure – is also a private sector company:

    “The London Organising Committee of the Olympic Games and Paralympic Games Limited (LOCOG) is a private company responsible for the planning, funding, preparation and staging of the London 2012 Games.
    The company has a core budget of over £2 billion, with almost all revenue raised from the private sector.”

    Source: http://www.london2012.com/about-us/funding/

  2. Posted 30/09/2012 at 10:54 | Permalink

    I am grateful to Mr Stevens for his comment. I must admit I did not address LOCOG’s legal status. But that status is, I believe, part of the confusing mixture of public and private agencies that it was my intention to show makes it difficult to provide for accountability and responsibility even more difficult to sheet home. LOCOG’s private status allows it to act without direct public accountability and, as it is a company limited by guarantee, not much private accountability. But the funds it administers are really public. The £2 billion Mr Stevens refers to is largely derived from exploitation rights which arise from the fact that the games being held, and the games have been made possible only because of the expenditure of at least £12 billion in public funds. These funds may be spent by other agencies, such as the Olympic Development Authority’, with which is housed with LOCOG in Canary Wharf, but their ultimate direction was (ignoring the Cabinet) by LOCOG. Understand who can!

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