The Olympics

The Olympics


News, information and stories about the Olympics.

Wednesday, March 31, 2010

Budget Worries

The Public Accounts Committee (PAC) has warned (in a statement of the "bleeding obvious") that the London Olympics is facing a "worryingly tight" financial position.

The fact that the original "budget" has spiralled from £3BN to £12BN (including £2BN running costs) should have given them a clue some time ago that all was not well.

The PAC, taking into account the amount of contingency funding already set aside to cover predicted risks, noted that the ODA was left with £194M "headroom".

The final costs for this folly are likely to be around £20BN.

Olympic Medals won during the Beijing 2008 Olympics

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