True to form, the 2012 London Olympics are now budgetarily out of control. The costs of holding this event are now expected to exceed £8BN, the original budget was for £2.4BN (it was then upgraded only last week to £5BN).
I warned of the dangers of spiraling costs last week, but never expected them to rise by over 50% again in less than a week.
To add to the shambles it is reported that Jack Lemley, the ex CEO of the Olympic Delivery Authority, resigned because of his worries over the budget. Specifically he feared that the cost of decontaminating the land, on which the Olympics will be held, will run out of control; he aslo feared that deadlines to decontaminate the land will be missed.
Mr Lemley also has sharply rebuked Mayor Ken Livingstone for alleging that Lemley resigned owing to health reasons, and a "major heart operation".
Mr Lemley stated that the operation was not major, and that he is extremely fit.
The one thing that we can all be sure of is that the costs of the fiasco will keep rising, and that the politicians such as Livingstone and Jowell (Culture Secretary) will do their best to avoid the blame.
Never allow politicians to take charge of major projects.