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Olympics To Come In Under Budget

London 2012 Olympics: MPs Fear Games Will Go Well Over Budget Due To Spiralling Security Cost | UK News | Sky News

MPs have expressed concern the London Olympics will go way over its £9.3bn budget - and said it was "staggering" the initial estimates about security costs were so wrong.
The Public Accounts Committee (PAC) has also raised doubts about the Games' legacy and warned the Olympic Stadium in Stratford must not become a white elephant.
The Government says it is confident London 2012 will come in under budget.
..."The cost of purchasing the Olympic Park land will ultimately come back to the public purse through the resale of the land after the Games and was therefore not included.
"Funding for the legacy programmes, that the PAC refer to, comes from existing business-as-usual budgets and we have been clear about this. These are for projects designed to capitalise on hosting London 2012 but are not an additional Olympic cost."

I understand now - "under budget" means not putting all that boring stuff like buying the land and building stuff that will last more that two weeks into it. So does that mean the whole £9.3 billion is being blown in the fortnight?

Comments

As I recall, wasn't the original budget supposed to be circa £2Bn?

That's how they ALWAYS sell these horrid things.

Everyone low balls every possible cost. Things get started based on that "sales" price, then....

As to white elephants and olympics: Montreal'76 Montreal is STILL paying for it. The costs go on LONG AFTER the glow is gone.

All I can say to Greater London is "my condolences on winning that."

A public sector vanity project going miles over budget?

Say it ain't so!

It should be mentioned, for a sense of scale, that £9billion quid will only add about 30% to government spending for that fortnight.

Diogenes: yes, but a billion here, ten billion there ... soon it all adds up and you're talking REAL money.

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