Mayor keeps 'Olympics Tax' after 2012 Games debt is cleared

The Mayor of London is continuing to impose an 'Olympics Tax' on Londoners - even though the debt of the 2012 Olympic Games has been cleared.

The tax, known as the Olympic precept, was set-up before 2012 to help pay for the Games and the associated regeneration projects.

During his electoral campaign, Sadiq Khan pledged to drop the tax once the funding was recouped from the taxpayer in 2017. However, in his first budget it has emerged the Mayor is continuing to collect the money, using a loophole that allows him to spend the cash raised on other projects - even though the Olympic Games have been fully paid for.

As part of their proposed amendments to the Mayor of London's budget, GLA Conservatives called on the Mayor to drop the 'Olympics Tax' and cover the cost by ditching TfL nominee passes, which allow free travel for flatmates of TfL staff - which is projected to cost £111,171,935 up to 2020.