Ken Livingstone says that London taxpayers will continue to pay 38p a week for foreseeable future

London mayor Ken Livingstone today confirmed that Londoners’ council tax would not increase next year to fund the Olympics.

The news comes following weeks of speculation about the spiralling costs of the Olympic budget and who would foot the bill.

Livingstone said each London taxpayer would continue to pay 38p a week for the foreseeable future. He said: “Today’s confirmation that there will be no increase in the Olympics section of the council tax demonstrates that the recent scare stories about escalating council tax bills were incorrect.”

He continued: “Today is the first instalment of the guarantee that we will keep to our commitments on the council tax. Next year there will be no increase in the 38p payment and my commitment is that it will remain the same the year after that and in every succeeding year.”

The announcement came as the mayor launched his budget for 2006/2007.