Olympics Cost £24 Billion And Rising
The true cost of the London 2012 Games for the UK taxpayer comes in at over £12 billion, £2.7 bn more than the 9.3bn budget, a Sky investigation has revealed......
The additional money calculated by Sky does not include extra counter terrorism funding of £1.131bn being allocated to the police despite a ministerial statement saying "much of this capacity will be devoted to the Olympics in 2012". Nor does it include the £4.4bn budgets of the security and intelligence services.
It also doesn't take into account the opportunity cost of having the majority of the UK police force working on the Games instead of fighting crime elsewhere. On peak days 12,000 police officers will be policing the Games.
In addition Sky's total misses out the £6.5bn spent on transport upgrades which have been brought forward due to the Olympic Games and could have been cancelled as part of the Conservative government's spending cuts if it wasn't for the Olympics.
If we had counted these figures, the Olympic spend would have totalled well over £24 billion, more than double the current Olympic budget and ten times the original calculation....
Following previous Olympic Games, nobody has ever been able to accurately predict the final cost and it won't be until 2013 when we can predict whether any increased tourism, economic benefits and the returns from the tenancy or sale of the Olympic venues and Olympic village will be a worthwhile investment.
I think I can safely predict now whether it will be a worthwhile investment, the answer is a big fucking NO.