Friday, March 9, 2012

Olympics 2012 - A Financial Nightmare for England?

The Olympics may go nearly £2billion over budget, British MPs warned Thursday.

Their report into the London Games also raised concerns about the Olympic legacy and the danger of the main stadium becoming a white elephant.

‘We are particularly concerned about the significant increases in the security bill. It is staggering that the original estimates were so wrong,’ said Commons Public Accounts Committee chairman Margaret Hodge.

The original estimate for the number of security guards in and around the venues was 10,000 – a ‘finger in the air estimate’, according to the Commons report. The Government announced in December that the figure has more than doubled to 23,700. Security costs from the Olympics budget have risen from £282million to £553million.

Read details: Mail Online


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