Saturday, March 23, 2013

Honest gov, we've got no money!

Well, I have to start somewhere so how about a topical item; the deal allowing West Ham to take over the Olympic Stadium in London's East End.
Now, first get into your head the recent government pronouncements that they have no money.
Skint, broke, nothing hidden under the mattress or in the old biscuit tin.
Got it?
Now, look at this for a government that keeps telling us we are all idle wasters, sponging off the state, spending money we don't have etc:
The cost of building and developing the Olympic Stadium finished up at around £600 Million. Now that is a lot of money but at least it had been budgeted for when plans were drawn up before the games.
Now, it has been announced that West Ham football club will take over the stadium for their new home from 2016.
Before they take up residence, there will need to be modifications and improvements to make it suitable for use as a football stadium; stuff like sliding rows of seats to cover the athletics track, new roof to cover a larger portion of the seating area etc.

The deal announced yesterday includes these costs, expected to be around £150M, possibly (probably?) rising to £190M, the funding of which breaks down roughly as follows:

Contribution from HM Government (aka taxpayers) £60  Million
Contribution from Newham Council (aka taxpayers) £40 Million (a sum that the council has had to borrow)
LLDC (aka taxpayers) £20 Million
West Ham F.C.  £15 Million plus £2M per year rent.
Notice how these sums do not total the guesstimated £150 Million?
They seem to add up to £135 Million but that is using old fashioned arithmetic. Under this government's version of arithmetic they do indeed add up. Honest!
Well, that is what they want us to believe. I am not a betting man but in this case, I will make an exception; the taxpayer will cough up more than £150 Million by the time the dust has settled.
Oh yes, and nobody has factored in the huge expense of maintaining the stadium. I wonder how much Mr & Mrs Taxpayer will be stumping up for that!
So; HM Government repeatedly tell us they have no money to spend on hospitals, the disabled, the unemployed etc.
But they obviously feel quite comfortable about bank rolling a couple of millionaire pornographers, probably worth close to £1 Billion between them.

So there we are; to paraphrase the useless cabinet "Honest gov, we've got no money!".

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