Quote:
Originally Posted by the funk
The point was more aimed at the fact it is not the mistake of Seb Coe and his bid team, but the Government.
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The bid organisers put the budget together. They were the ones who put in an initial estimate of £2.38 billion for the construction of Olympic facilities, while rashly assuming that there would be no VAT to pay on it. If they had done their homework more carefully, they would have realised that EU laws make VAT payment on projects of this nature mandatory. No wonder that a trendy design outfit have just relieved them of £400,000 for a dodgy logo!