Tonight the Standard’s Ross Lydall reports that the Grand Depart staged in London for the Tour de France only cost TfL £3.8 million and generated £123 million in benefits. This is the kind of economics that the Mayor and his bodies love. Just like the Mayor’s “6 jobs will pay the £740K India bill” claim it is utter rubbish. TfL’s press release is here but there are no links to the report they mention – probably because the details of the report would demolish the press release. Apparently “An executive summary of the report is available to media on request”.
TfL are being really evil about releasing details of this spending. I asked twice by e-mail about the advertising spend and got an answer, £3 million, after a six week wait. Since then I have asked TfL commissioner, Peter Hendy, twice for a full breakdown of the whole thing – I wrote again today. Hendy shows his contempt for accountability by ignoring letters written on 2nd August and 16th October.
The real number is much more like £10 million but TfL don’t want to discuss that.