OLYMPICS: The Government committed pounds 75m to supporting the failed Manchester Olympics bid, Tony Baldry, the environment minister, said. The Arena cost pounds 35.5m, and up to pounds 30m was set aside to buy and clear the Eastlands site. There was pounds 6.4m for the Velodrome, plus pounds 2m from the Sports Council, and pounds 2.2m to support the activities of the Olympic bid committee.
INSURANCE TAX: About 16.5 million households - 85 per cent - will be hit by the new tax on insurance premiums later this year, Paymaster General, Sir John Cope, said.
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