View from the house: Gold brightens gloom

Aug 27 2008 Ian Taylor, Conservative MP for Walton And Esher

Summer 2008 will surely be remembered as one of the greyest and gloomiest yet. Leaden skies, economic distress and news of Russian belligerence have cast a giant shadow over the season of sun.

Thank goodness for the Olympics! Team GB's astonishing medal haul provided a much wel-come ray of light, firing our national imagination as eyes turn to London 2012.

Indeed there is much to look forward and aspire to. The exquisite opening ceremony in Beijing, as much a statement about China's ambitions as it was about sport, has unquestionably raised the bar in the 'show' stakes.

However, we must remember that the Olympics are more than a plat-form on which to parade national pride; the Games represent unique sporting and economic opportunities which should be welcomed.

First, the prospect of the Games will engender greater enthusiasm for sport. It's impossible not to feel inspired when witnessing world class athletes, especially with such success within our own ranks. Surrey residents will have felt proud, as I did, that several gold medallists hail from this neck of the woods. Moreover, as concerns for problems such as child obesity grow, what better way to encourage young people's participation than by tapping into the Olympic 'dream'? This is a chance to increase investment in sporting facilities in schools across the country and imbue our youth with the will to win.

The construction of the Olympic village will also help to leave a lasting legacy of thousands of new homes after 2012, many of which will be affordable. The new communities will be supported by the creation of parks, community facilities and transport links - bringing about much-needed improvements to deprived areas.

Small businesses will also benefit. Over 70% of the companies that have already won over £2 billion worth of work supplying the Olympic Delivery Authority are small and medium-sized businesses and 98% are UK-based. The latest London 2012 business engagement figures also show that SMEs make up nearly 90% of the 18,000 companies registered on the unique 'dating agency' which aims to match businesses with London 2012 related opportunities.

Naturally we must be prudent and keep spending in check; we have much work to do yet. But as the Olympic flag was handed over in Beijing, I couldn't help but feel a tingle of anticipation. Let the countdown begin.