Friday, October 26, 2007

Ken Blows Gaff On 2012 Budget

Ken and financial advisor

Mayor Livingstone has now confirmed what we always suspected: the original "budget" for the 2012 Olympics was never more than a wild guess.

In attempting to convince us that the "budget" for his latest extravaganza, Crossrail, is robust, he blurted out:

"This is not like the Olympics where we made a guess because we were in a bidding process.''

So now we know. He and our idiotic "government" committed taxpayers to a multi-billion and open-ended bill on the basis of nothing more substantial than a guess.

The lack of professionalism is appalling. But more fundamentally, it is outrageous that they have so little regard for the people who elect them, and who are forced to pay their bills. It underlines once again why we should never ever believe a single thing they tell us.

PS As you may recall, when the revamped £9.3bn 2012 budget was announced in March, Livingstone described the Treasury's insistence on setting a £2.7bn construction contingency reserve as "breathtakingly ridiculous". But we now learn that £360m of it has already been drawn in just the first six months. At that rate it will run out nearly two years before the Olympics are staged.

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