Significant Uncertainties

The National Audit Office (NAO) have warned of "significant uncertainties" over the costs London's 2012 Olympics.

No kidding!

The NAO said the £9.3BN (excluding the £2BN running costs of the infrastructure) was "sufficient to cover the estimated costs of the Games" as plans stood.

However, it then went on to say that this was true only "with the important proviso that the assumptions on which the budget is based hold good".

Which is Whitehall speak for saying that as soon as things change, as is the nature of life, so will the budget.

A pretty lame statement in my view.

The NAO warned that the Olympics involved "a high level of inherent risk".

Tessa Jowell, of the Department for Culture Media and Sport (DCMS), said:

"We are determined to keep an iron grip on costs. That is why we have set in place rigorous cost oversight procedures within Government, including a cross-Government ministerial funders committee and task force to assess any requests for further contingency funding under strict criteria."

She would say that, wouldn't she?

The costs have rocketed from £3BN to £12BN, thanks to the inept and incompetent management by Jowell and the DCMS.

Never entrust a politician with the management of a large scale, long term project.

We can be assured that by the time the Olympics have been held, the current budget of £12BN will have long since been overrun.