The Olympics

The Olympics


News, information and stories about the Olympic Games.

Friday, 1 February 2008

Costs Keep Rising

The costs for the 2012 London Olympics just keep rising. The latest admission of budgetary failure relates to the costs of the aquatics centre, which has trebled in cost over the last 4 years.

The expected cost of the 22,500-seat building, which will contain two 50-metre pools and a diving pool, is now £214M against a budget £70M in 2004.

Seemingly a large amount of this increase is down to VAT and inflation.

You would have thought that the original budget would have take these two very obvious factors into account, wouldn't you?

Needless to say, opposition politicians are duly "outraged". Bob Neill, the Conservative London Assembly Olympics spokesman, said:

"This is simply an outrage.

Late and massively over budget.

It's a terrible shame for those who would have used it to train, those Londoners who were looking forward to swimming there and a big disappointment for all of us who are going to pay for it

No one seriously believes that the current budget £12BN (including £2BN running costs) will actually be met, do they?

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