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It criticised the claim by Neale Coleman, a policy director for the then London mayor Ken Livingstone, that greater participation in sport would be a "given" if Britain won a high medal tally.
The report goes on to argue that plans for urban renewal must reflect the needs of residents and not replicate the significant bad feeling in Atlanta, where some neighbourhoods lost housing to the Olympics development.
Even in Barcelona, the most successful of the four cities, infrastructure improvements mainly benefited international residents and property investors.
There has been a massive increase in property prices in Beijing, average prices are reported to have increased by almost 10%. House prices in London and the South East have already risen well above the national average with prices two to three times what they were a decade ago.
In Hackney, the average price in 2006 was £265,049. In 2007 it was £319,279, a 20% increase.
There is also the issue of what pay and conditions construction workers will have and health and safety on-site. At the height of the construction works over 20,000 people will be working in a very tight area.
In Beijing, labourers (some in their teens) are working seven days a week for less than £20 to complete the facilities on-time. Seven workers were killed in March on the construction of the Olympics subway tunnel. Workers are housed in office buildings outside the site that have been transformed into dormitories, sleeping twelve in unheated rooms without running water.