Olympic land debt: London Assembly told 'no extra tax'

Velodrome at the London 2012 Olympic Park

The mayor's chief of staff said the sale of assets will repay the Olympic land debt

Related Stories

Londoners will not have to pay extra money to repay debt of £231m for Olympic land, the Mayor of London's chief of staff has said.

Sir Edward Lister told the London Assembly that taxpayers will not have to pay more through an extension of the Olympic precept or council tax.

The Greater London Authority owes the cost of buying and treating the Olympic Park site.

Its draft budget is based on no grants to cover the debt after March 2014.

However, Sir Edward said the burden being laid on taxpayers had "never been in any way in any discussion - it has never arisen".

Current talks centre around the assets being used to repay the debt, Sir Edward said.

He added: "We will be responsible for selling the assets and repaying that debt."

The Olympic Park complex in Stratford will host a number of Olympic and Paralympic events from 27 July to 12 August next year.

Venues inside the park will include the Olympic Stadium, the Aquatics Centre and the Aerodrome.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

BBC London

Weather

London

20 °C 10 °C

Features

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.