CHANCELLOR PLANS £7M STUDY OF NORTHERN OLYMPICS BID

Chancellor John Healey is set to announce £7m in Wednesday’s Budget for a study of a possible Olympic Games bid in northern England. The government says the study will examine whether the region could host the Games in the 2040s. It will also consider a Paralympic bid. Officials will assess potential venues, transport arrangements, hosting costs and the likelihood of a successful bid. The government, UK Sport, northern mayors and the British Olympic and Paralympic associations will take part.

The government asked UK Sport in May to make an initial assessment of the idea, including its potential costs and benefits. The planned £7m study would provide a fuller assessment before any bid. London is the only UK city to have hosted the Olympics, staging the Games in 1908, 1948 and 2012. Manchester bid for the 2000 Games in 1993, but Sydney won the right to host them. The proposed northern bid would concern a later edition of the Games.

The prime minister said a northern Olympics could bring events to towns and communities beyond London. “Few things bring a country together quite like the Olympics,” the prime minister said. The government has presented a possible bid as part of its plans for growth and regeneration. A 2013 estimate by UK Trade and Investment put the economic boost from London 2012 at £9.9bn, citing contracts, sales and foreign investment. The feasibility study will examine what hosting a future Games in northern England could cost.