Socialist Worker

Olympic fat cats grab gold

The G4S scandal is just the tip of the iceberg

Issue No. 2312

Before the first starting gun has been fired, it’s already clear who the winners of the Olympics will be.

Private firms are set to rake in record profits from lucrative contracts given to them by the Tories.

G4S, the private security firm that can’t get its guards to turn up, is still in line for £284 million of our money despite the shambles.

But it’s not the only firm cashing in. The total cost of the Olympics is estimated at a staggering £24 billion. The vast majority will come from public money.

So contractor Capita will get £300 million—the cost of a new hospital—just to take apart bits of the Olympic Park after the Games.

Construction giant Carillion was paid another £300 million to build the Olympics media centre. Organisers have spent £1.5 million on iPads for Games volunteers.

And Tory tax breaks will funnel our cash to the sponsors. The Olympic site features the world’s biggest McDonald’s. Together with other sponsors such as Visa and Coca-Cola they will escape paying £600 million in tax.

Meanwhile cleaners at the Olympic Park are being housed in prefab slums with 75 to a shower. But the bosses have taken the money and run.

» Olympics fiasco adds to string of G4S scandals

» Games will be tax loophole for fat cats

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Article information

Tue 17 Jul 2012, 16:42 BST
Issue No. 2312
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