Our current estimate is that the Summit will cost around £19m. This includes the venue, and event security / policing.

Costs will be found from within existing departmental and police budgets.  Proper procurement processes have been followed to ensure value for money.

The London Summit is an investment in bringing world leaders together to co-ordinate global action to restore stability, growth and jobs. If action agreed at the Summit adds just 0.1% to economic growth, this would be worth over £1 billion to the UK this year alone, and over $50 billion globally.

The London Summit costs also compare favourably with the costs of hosting similar events in the past. To take examples from outside the UK, the 2008 G8 Summit in Japan cost an estimated $285m, and security for Germany’s Heilegendamm Summit cost €92m.

Visiting delegations will organise and pay for their own accommodation. Accommodation for UK officials, event organisers and the police is included in the total cost of the summit. Costs will be found from within existing departmental and police budgets.