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Olympic Games: Greater London

Volume 462: debated on Wednesday 4 July 2007

To ask the Secretary of State for Culture, Media and Sport what estimate he has made of the value of land at the Olympic site which will be available for resale after hosting the Olympic games in 2012 at current prices. (146246)

[holding answer 2 July 2007]: I have been asked to reply as Minster for the Olympics.

I refer the hon. Member to my written statement to the House on 27 March 2007, and the revised memorandum of understanding which has now been agreed with the Mayor. Copies of the memorandum have been deposited in the Library of the House. This shows details of the amounts we expect to be recovered from the sale of land acquired by the London Development Agency for the purposes of delivering the Olympic and Paralympic games, and how these funds will be allocated.