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Vince Cable asserts Hammerson and Westfield investment in Croydon is due to Olympics

Link to Daily Telegraph

"The Government published figures on Friday that claimed there had been a £9.9 billion boost to the economy from the Games in the last 12 months.

More contracts have been secured for British firms and more foreign investment has been made in Britain as a result of the Olympics, the government said.

If true, this means that the cost of the Games – estimated to be under £9 billion – will be been outweighed by the economic benefits.

However the figures were questioned by presenter and former economist Evan Davis, on the BBC Radio Four Today programme, because it included a new £2.5-billion shopping centre [actually £1-billion, according to the report] 16 miles away from the Olympic Park, in Croydon, south London. Mr Cable replied:
"I can understand a rigorous academic approach that is sceptical of these things, that is entirely justified, but there is more in it than you are giving credit for."

Link to Greater London Authority:

"Hammerson's major London development
delayed over traffic concerns."

Boris Johnson, Mayor of London:
"Well, folks, we are doing it again.

We are defying the sceptics and the doom-mongers.
They said we couldn’t run a bath – 

and we delivered the greatest Olympic and
Paralympic Games the world has ever seen."

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