Hi, my Golf is starting to give off some light blue smoke, especially when it's started up shortly after having been driven for a while. So when the engine is still hot basically. The car always needs turning over for a few seconds when the engine is still hot, then the light blue smoke is quite apparent. Could this mean anything?

It doesn't seem to smoke when cold, just runs a little rich as the smell of petrol is noticeable (although there is a hole in the exhaust just before the silencer, so I assume that could be the culprit.)

I'm thinking the light blue smoke could be due to worn valve seals... if this is the case, can it be rectified by any oil additives? Or could this be a costly repair?
I would like to rectify this asap as the MOT is at the end of this month and I don't know if it will fail on it (i know it will on the exhaust, but a new one is on order) plus I don't want it to cause damage if left untreated.

Any thoughts are greatly appreciated.

Note: its still got the original heap of crap 2E2 carb.