The Olympics

The Olympics


News, information and stories about the Olympic Games.

Thursday, 25 January 2007

Taxpayers Lumbered With Cost Overruns

The out of control costs of the London 2012 Olympic Games will have to be met by the long suffering British taxpayers.

That at least is the view of the Commons select committee, looking into the cost overruns.

The committee has published a report that says:

"Just 18 months after winning the bid, it is clear that many of the cost figures are seriously outdated."

It went on to warn:

"If the financial pain of paying more for the Olympics is to be widely shared, it will require a contribution from the Treasury."

A revised budget is due to be announced this February.

It can be guaranteed that this will be one of many revisions upwards!

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