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He thanked Prime Minister David Cameron for hosting the summit adding: "To the people of Wales, thank you for your warm hospitality 'diolch yn fawr'".
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Members of Parliament Olivia Chow and Mark Holland labelled the initially claimed budget of $1.1-billion 1.1-billion the summits as "obscene" and "insane" while others argued that the money could have been used for long-pending municipal projects in Canada, suchostingansitheity.
Heath councillor Graham Hinchey said the UK government was paying for and hosting the summit, and local authorities were not the ones imposing the restrictions.
The country holding the presidency in a given year is responsible for hosting the annual summit and for handling the security arrangements.
Melissa Kushner, Founder and Executive Director of Goods for Good explains the thinking behind hosting the summit: "The issue is too complex for any one organization to tackle alone.
"The American people send their greetings and we are very grateful for your hospitality, not just for this meeting but for hosting the GCC-US summit that's taking place tomorrow, Obama said.
And anti-war protesters should never forgive him for hosting the 2003 Azores summit at which George Bush and Tony Blair put the final touches to a plan for an illegal invasion that has drenched Iraq in the blood of innocents.
Looking forward, French president Nicolas Sarkozy announced that the costs for hosting the proposed G8 and G-20 summits in France in 2011 would be one-tenth of Canada's.
Jo Swinson, the minister responsible for consumer affairs, will host the summit, which comes just days after the sector was referred for an investigation.
A Barclays report on the economic impact says there will be a "tangible" short term boost for businesses who have hosted the summit delegates – and the security forces.
"The cabinet has decided not to host the summit".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com