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Hosting G20 summit 'will cost taxpayers £80million'
Jonathan Prynn2 Apr 2009
Hosting the G20 summit will cost Britain's economy £80million, more than four times the Government's official estimate.
As well as the bills for costs such as police overtime, food, hotel rooms and goodie bags for visiting dignitaries, there will also be a big knock-on effect for businesses in London, according to an economic think tank's calculations.
Foreign office minister and G20 special envoy Lord Malloch-Brown estimated the cost to the taxpayer at only £19million insisting it would be "worth it". But Douglas McWilliams, head of the Centre for Economics and Business Research, said this was a huge underestimate as it does not include the impact on the private sector.
He said: "First, transport is disrupted we estimate a cost is lost productivity from greater time spent in transport because of increased security and shut roads of £28.2 million.
"And if a fifth of the workers in central London have to go home an hour early for fear of disruption this would cost a further £24.4million." He added that the taxpayer would likely have to fork out another £10million for all the months of preparation and concluded: "It is unlikely that Londoners and the UK taxpayer will get away with a bill of much less than £80 million."
Matthew Elliott, chief executive of the TaxPayers' Alliance, said: "An incredible amount of taxpayers' money is being spent on Gordon Brown's political posturing. While he is jet-setting around, the rest of the country want genuine help such as lower taxes."
The Government has insisted that the gathering has been a "budget" summit and Lord Malloch-Brown said: "If [the summit] is the signal of restored confidence in the world economy it'll be worth every penny."
Reader views (11)
Pornography, second homes, expense accounts for bathplugs and now lavish international junkets. Is there no end to the depth of the parliamentary trough the taxpayer is expected to keep replete throughout the lifetime of this government? Why isn't the media demanding the government focuses on their fiscal responsibilities during these times?
- Joannie, London, England, 02/04/2009 23:14
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Let's hope all these smiling folk write us a letter - us being the British tax-payers - saying thank you very much. One particularly enjoys buying clothing for their children, I would like to send a goody-bag to their grand-parents and in-laws, and maybe their cleaners and gardeners, and the guy who opens the door for them when they get out of their limos. We have to think big about our generosity. Of course it will be difficult for me, living on my £90 a week old age pension, but I must show my appreciation.
- John Problem, Hackney Wick, London, UK, 02/04/2009 15:44
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Can anyone erxplain why this summit will cost millions. What on earth is going on.
T H Leeds
- Thomas Hayes, Leeds UK, 02/04/2009 14:21
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If the "budget" summit cost UK taxpayers £80,000,000 - I dread to think what a full-blown summit would cost.
A complete and utter waste of time, space, energy and Joe Publics' hard-earned cash.
To watch Brown greeting all representatives of other countries this morning - with that phony grin slapped right across his deformed face - I just wanted to be sick.
If Joe Public even THINKS that Brown cares one hoot about the man or woman or child at street level, they need to be urgently investigated by the appropriate authorities.
The ONLY person that matters to MP's is themselves. The rest of the population can get lost.
- Reuben Camara, Morecambe/Lancaster, 02/04/2009 14:18
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The basics of the communique for these events is nearly always negotiated in advance. Getting all these leaders together is designed to fool the public that something is being done when in reality absolutely nothing is achieved. Leaders will return to their countries claiming that a package of measures has been agreed to address a particular situation when in reality all substantive issues had been agreed beforehand. Summits are nothing more than massive publicity and networking events where our leaders, their spouses and officials junket at the expense of the downtrodden taxpayer. Its nothing more than a farce.
- M D, cardiff UK, 02/04/2009 13:26
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Gordon you are fired.....
- London Eye, UK, 02/04/2009 13:14
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Mr. Brown, Have you not already succeeded in doing what any other primemister has failed to do? You have already bankrupt Britian, and now you hosting summits to boost your ego. none of these countries are interested in bring economic stability due to the fact that it was created by the united states and Britain, and whilst Obama has apologised to some extend, we have had no app=ology from Brown.
Why would India be interested in an economic stimulus? their economy is still growing 6-7% a year, it about time Britain faced the truth - we are bankrupt and it will take several decades to recover from the position our Banks have placed us in.
- Raminber Bhalla, Northolt, 02/04/2009 13:06
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Gee Crash, did you not think you were unpopular enough with the electorate - not that we ever got a chance to vote for/against you! - but you wanted to put the final nail in your coffin?
- Marianne, SW France, 02/04/2009 11:56
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What a waste of time. This could all have been done by tele-conference, and saved a lot of money, and unneeded air travel.
- Martin H. Watson, Teddington, 02/04/2009 11:41
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Every time these meetings take place,riots break out. May I suggest they be located in Ascencion Island (British territory) which has a sufficiently large airport and the participants can be lodged in Ghadaffi type tents.
It would be much cheaper and would avoid the rabble rousers
- Peter Glazier, Sao Paulo, Brazil, 02/04/2009 10:08
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This is a scandalous waste of tax payers' money on what is effectively Gordon Brown's attempts to "showcase" himself. The conference could have been held by video link and we would have been spared the cost as well as the scenes of violence on the streets of London. I hold Gordon Brown personally responsible for the damage caused and injuries sustained.
- R.F., Yorks, UK, 02/04/2009 09:42
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