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Games 'boosted UK trade by £10bn'

By Alan Jones

The Government has defended a new study showing a near £10bn trade and investment boost to the UK economy as a result of last year's London Olympic and Paralympic Games, creating thousands of new jobs.

A report by UK Trade and Investment said businesses had secured contract wins, additional sales and new foreign investment in the last year and strong progress had been made against all the legacy commitments.

Independent research projects the total benefit to the UK from hosting London 2012 could reach £41bn by 2020, said the report.

Business Secretary Vince Cable rejected suggestions that the report had attributed to the Olympic effect economic activity and investment which might have taken place anyway.

He said companies which had been considering investing in this country were persuaded to do so as a direct result of the Olympics.

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