The Olympics

The Olympics


News, information and stories about the Olympic Games.

Tuesday, 9 February 2010

Raiding The Contingency Fund

It seems that the much used Olympics contingency fund will have to be raided again, this time to cover previously undeclared maintenance and security costs (estimated at between £150M-£230M).

The £2.7BN fund has already been depleted by £1.3BN.

The raid on the contingency fund can only be made after approval from a committee of senior ministers, including the Chancellor of the Exchequer.

They need to ask why these costs were not identified before, when the "budget" was being prepared.

Olympic Medals won during the Beijing 2008 Olympics

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