John Healey's first Budget will allocate £7m for a feasibility study into hosting the Northern Olympics. The report, conducted by government, UK Sport, the Northern Mayors, and the British Olympic and Paralympic associations, will examine venues, transport links, city collaboration, community benefits, costs, and bid viability. The Conservative-Lib Dem coalition government previously estimated hosting in London cost £8.9bn, though a 2013 UK Trade and Investment report claimed a £9.9bn economic boost through new contracts, sales, and foreign investment. Some questioned these figures, including the Federation of Small Businesses and the National Institute of Economic and Social Research (NIESR).
Healey emphasized that Olympic legacy extends beyond summer celebrations, stating, "The North hosting an event as big as this would be truly unforgettable." He highlighted Britain's proven track record with London 2012 and expressed commitment to potentially bidding for the prestigious games in the 2040s.
The British Olympic Association, Paralympics GB, and UK Sport welcomed the funding announcement, stating they look forward to building on London 2012's success and exploring the opportunity's benefits for the nation and global Olympic and Paralympic movements.
Source: BBC Sport · Summarized by HeadlinesBriefing