Just an idea...

We learned today that there is a £500m Olympics 'underspend'. And it got me thinking.

We learned today that there is a £500m Olympics 'underspend'.

And it got me thinking.

How about that money is split equally between each of London's 7.5m inhabitants? I think it works out at about £65 odd per Londoner. Think of it as a kind of 'thank you' from Wenlock and Mandeville for putting up with the inevitable inconvenience that the Olympics, no matter how brilliant, will inevitably cause those of us who live in the capital.

But this money is not to be distributed sans condition. Oh no. We will use it to kick-start our sluggish economy, and spread the wealth out of the Metropolis and into regional areas where, arguably, it is more needed.

Here's how it would work.

After the Games, and their Paralympic equivalents, are over and the hangover begins, Londoners will have the month of October to spend their 'Olympics Bonus'.

But spend it in October, or lose it. And spend it anywhere in the British Isles: anywhere, that is, that falls outside of the M25.

And spend it on food, drink or lodging that is 'consumed' during the month of October. A great meal, a weekend in a B&B, a few rounds in a country boozer, a gig at the NEC - whatever tickles your fancy.

The idea, of course, is that not only do Londoners get something of a thank you, but - more importantly - they fan out across our country armed with fistfuls of sterling, pumping pounds into harder-pressed regions in a highly concentrated burst.

Within a month of this 'consumption' - they simply take receipts to the value of the Olympics Bonus to the Post Office nearest the point of consumption, where the £65 spent in the local economy will gladly be reimbursed.

The idea (I think) works, the means of facilitating it are all there (simple reimbursement from Post Offices) and there is a very good chance that many Londonders, with the impetus that being out of town provides us all, could end up spending a good deal more...

If you think this has any merit, let's see what Twitter thinks - #olympicsbonus

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