The Olympics

The Olympics


News, information and stories about the Olympic Games.

Friday, 9 March 2012

Olympics Budget Is £12BN

I am amused to read that MPs and the mainstream media have finally woken up to the fact that the London Olympics "budget" is not £9.3BN (as is usually stated by politicians and the media) but in fact close to £12BN (as I have always stated).

For why?

There are £2.2BN running costs on top of the £9.3BN construction costs!

I have been warning about this accounting sleight of hand for many years, eg 2007:

"Adding further pressure to the already out of control London Olympics budget (currently standing at £12BN, including £2BN running costs); Tessa Jowell revealed that the bill for policing London and the United Kingdom during the Games had soared from £200M, at the time of the 2005 bid, to a total of £1.2BN."

Olympic Medals won during the Beijing 2008 Olympics

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