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Olympics and Paralympics (Funding)

I join my hon. Friend in paying tribute to what is an outstanding organisation. I welcome the additional investment, and the UK can be proud of its success to date—and there can be no doubt that there has been considerable success to date. We can proud of what I am sure will be a fantastic games and proud of the legacy that the games will leave behind. These Olympic and Paralympic games represent remarkable value for money, generating both financial benefits and other perhaps less tangible ones as well. The opening and closing ceremonies will be worth potentially £5 billion to the UK. When it comes to global promotion of our great capital city and our great country, this legacy of brand awareness will increase tourism and foreign business investment, which will sell the UK as a destination for many millions of people around the world. We have an interest in students from overseas looking at this brand—and I have to say that brand GB is great product and we should do all we can to sell it. Brand GB will have a huge knock-on effect for years to come. VisitBritain estimates that an additional 4.6 million visitors will visit this country over four years, creating 60,000 extra jobs and a spend of an additional £2.3 billion —a fantastic achievement. Another part of the games legacy will be a physical legacy, with economic regeneration much needed in this part of east London. Jobs, businesses and money will be created, and the post-Olympic games has the potential to be every bit as exciting as the games themselves.