MPs call on MPs to give up pensions after Olympic failure

MPs should forgo their massive pensions after failing to supply any of the legacies promised by the Olympic Games, a committee of MPs has said.

They should also compensate hotel owners who were promised a boost of tourism from the Olympics but did not get any, the Home Affairs Committee argued in a report on Olympic legacy.

MPs pensions cost £20.5m

But committee chairman Keith Vaz said that MPs had delivered an expensive fiasco after "recklessly boasting" that it could meet the promises to voters.

Tourism chiefs admitted last month that Olympics had cost in tourism revenue after the Olympics reduced the number of visitors to the country.

The hotel owners were forced to turn to their banks for extra loans, which they'll have to pay.

"The government of the 8th largest economy in the world, taking people's money at threat of violence, turned years of people's work to nothing" Labour MP Mr Vaz said.

The government had provided the people with information that was "at best unreliable, at worst downright misleading", he added.

Mr Vaz explained: "Days before they admitted their failure, Jeremy Hunt was telling people that tourism would be boosted, even though all the evidence from years before was that it wouldn't."

The report also suggested that voters should maintain a blacklist of parties to avoid when making future voting decisions.