Mayor of London Ken Livingstone has reaffirmed his statement that Londoners will not pay any further increase on council tax despite the government’s revised 2012 Olympic budget including an extra £300m contribution from the Mayor’s office.
Livingstone stated that he will not increase the current 38p a week rise on council tax laid out in the original Olympic budget and that the extra funds would come from ‘within the Greater London Authority group’.
Livingstone said: 'Londoners will not pay a penny more than the current 38p a week contribution on the council tax to the Olympic Games.
'Today's announcement delivers that promise. To get the Games for the price of a walnut whip a week is a bargain'.
It is likely that the Mayor will look at the Transport for London reserves and use a £200m loan he has taken out for transport improvements in east London to help find the £300m.
Culture Secretary Tessa Jowell unveiled the new 2012 Olympics budget of £9.35bn to the House of Commons yesterday in which the demand of the Mayor’s additional £300m investment was revealed.