Pathetic!

There is one constant associated with the Olympics, that can always be guaranteed, namely that the costs originally budgeted will always be overshot.

It seems that the politicians and construction companies, that get their greedy little snouts into the Olympic trough, are simply not capable of telling the truth when it comes to budgets.

It should therefore come as no surprise to learn that the costs of the London 2012 Olympics are already spiraling out of control.

The British government admitted yesterday that the cost of staging the 2012 Olympics in London will be £500M more than stated in the original bid.

Pathetic!

The cost is now estimated to be around £2BN.

Seemingly the financial "wizards" who put together the budget forgot to allow for inflation from 2004 to 2102.

Again, pathetic!

Liberal Democrat spokesman, Vince Cable, said that it showed "total chaos" at the heart of the project.

Quote:

"How they got into such a complete muddle about an important part of the costing of the Games, why they got this so wrong, is a mystery."

Seemingly the London Olympic Organizing Committee (LOCOG), which is responsible for putting on the Games, were always aware that the costs would go up.

I wonder why they didn't mention it to anyone?

Needless to say, the organisers and politicians who saddled us with this unecessary waste of money are claiming that the extra costs will be covered by ticket sales and marketing rights.

Well they would say that, wouldn't they?

As sure as eggs are eggs, the eventual costs of these games will massively exceed the current estimate of £2BN.