Following on from Mike’s post yesterday concerning the chaos and incompetency that lies (and lies) behind the London 2012 Olympics, comes the news that Organisers of the 2012 London Olympic Games have discovered they may be facing a huge additional tax bill. Tory Olympic spokesman Hugh Robertson said the government had assured him the £2.38bn cost of construction sites would not be subject to VAT. But the Treasury is demanding the tax, and has said European regulations state it cannot be seen to be supporting the organisers of the event.
This is but the beginning. Expect to see the costs of this enterprise spiral out of all control.