Sunday, April 02, 2006
Olympics Watch- Putting On Weight
Just two days ago we noted how in the Budget, Gordon Brown increased the projected cost of 2012 from his original figure of £2.375bn to £3.4bn.
Today we hear the total is to be pushed up again, to £5.4bn:
"David Higgins, chief executive of the Olympic Delivery Authority (ODA), signalled that the £1bn infrastructure budget earmarked will inevitably increase. Higgins, the former head of the regeneration agency English Partnerships, refused to put a price on how much the new infrastructure would cost. But he indicated that at least £3bn in total would be needed, taking the overall bill for the Games from £3.4bn to £5.4bn."
This is astonishing. In just nine months, the projected bill has increased by £3bn- or a gobsmacking 127%. £2bn of that has come in just the last ten days. And there's still another 75 months to go.
Of course, we always knew Gordo's "well-supported and achievable" £2.375bn was never more than complete b****cks. But at this rate, even our projected final bill of around £20bn may need to be be cranked up.
Posted by Mike D at 6:19 pm