Olympics Costs

Still going up by the way:

Public support for the 2012 Olympics is in danger of draining away
because costs are likely to reach an astonishing £8 billion, according
to a devastating report by members of the London Assembly.

The £8bn figure is considerably higher than the £5bn revised budget for the event produced just last week.

Going up by £ 3 billion a week eh? How long before it takes all the money in the world? (320 years I think so at least it won’t be that bad).

Anyone want to have a stab at an estimate for the true cost? I’ll go with a round £20 billion I think.

2 responses

  1. What would happen if Cameron announced that if he wins the next election, govt support for the Olympics would be withdrawn?

  2. Usual rule of thumb in the public sector is to take the initial estimate and double it = £10 billion.
    Its all part of Blair’s legacy. Mind you, it might mean the end of Ken Livingston as the Mayor in the 2008 mayoral elections.
    Has a nation ever pulled out of hosting an Olympics? its unprecedented, isn’t it?
    I still think there is a case to offshore the 2012 London Games to China!

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