What a bargain! Olympics is just £6.4bn over budget

June 14th, 2012

FAKE NEWS for the Zionist agenda

By
Daily Mail Reporter

PUBLISHED:

19:16 EST, 13 June 2012

|

UPDATED:

19:59 EST, 13 June 2012

'Disingenuous': Olympics minister Hugh Robertson was criticised for his boast that the Games were under budget

‘Disingenuous’: Olympics minister Hugh Robertson was criticised for his boast that the Games were under budget

The Government yesterday issued a glowing report on the Olympics coming in under budget – despite the cost being almost four times the original estimate.

Olympics Minister Hugh Robertson said it was a ‘significant achievement’ that spending on the 2012 Games was expected to come in £476million under its £9.3billion budget.

But his boast was declared ‘disingenuous’ by critics, who pointed to the initial estimate of £2.4billion made by the Labour Government when London won the bid in 2005.

This had ballooned to £9.325billion by 2007, leading to claims that the public was duped over the true cost – or that an overly generous budget had been created to ensure it would not be exceeded.

Nevertheless, Mr Robertson used the final quarterly update on Olympic finances before the London Games to say: ‘The project is in an extraordinarily good place financially.

‘We are in the process of delivering the largest logistical exercise outside a major war and we have done it on time and under budget, and that’s a fantastic calling card for this country.’

He added that there was a ‘recognition right from the word go that [the £2.4billion estimate] would have to change dramatically on the basis of delivering the Games’.

The figure did not include costs for security, VAT, the regeneration of East London or contingency funds.

Costly: An aerial view shows the construction starting for the Olympic opening stage designed by Danny Boyle at the Olympic Stadium yesterday

Day 26 of the torch relay: Torchbearer 002 Joseph Forrest and children from Madras College, run along West Sands beach with the Olympic Torch in St Andrews, Scotland, yesterday

Day 26 of the torch relay: Torchbearer 002
Joseph Forrest and children from Madras College, run along West Sands
beach in St Andrews, Scotland, yesterday

Proud: But yesterday is was also revealed that the security bill for the Games had swollen by a further £19million amid fears London's streets may be overcrowded

Proud: But yesterday is was also revealed that the security bill for the Games had swollen by a further £19million amid fears London’s streets may be overcrowded

Yesterday also saw the disclosure that a further £19million would be spent on security.

The decision was made after ministers were ‘surprised’ at the huge turnout for the Queen’s Diamond Jubilee river pageant, which saw 1.2million people line the banks of the Thames despite poor weather.

The scenes sparked fears of over-crowding during the Games, particularly around the cycling road races during the opening weekend.

The Government has already revised the cost of security once, allocating an extra £271million to almost double the initial £282million put aside after the organising committee said it needed thousands more security guards.

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What a waste of money, we could have used that to support Spain.

– susan, bournemouth, 14/6/2012 04:21

It’s only money-our money…

– Robert, West Lancs, 14/6/2012 04:04

‘a significant achievement’ there should be an enquiry over why such a large amount of money was wasted. Yet again taxpayers money is treated with total disregard.

– Cliff, Southampton UK, 14/6/2012 03:41

Did I read right? A 9.3 billion budget, for games. Could this have not been put into the economy to kick-start manufacturing businesses? What a waste.

– Mags, ex pat from Edinburgh, 14/6/2012 03:38

Â£9.3bn !!!! But it sounds a lot more when you say Â£9300,000,000!!
Yup that’s a heck of a lot of
Hospitals, schools and construction jobs we could of had. Still we get to watch the games for a few days whilst London gets a huge amount of redevelopment and facilities on the back of the taxpayers .

– Mondeo man, Manchester, England, 14/6/2012 03:03

If this was my household budget I would have no home and be on the street. Sorry I wouldn’t be as the MUGS – tax payers would re house me and feed me etc.
Outrageous waste when the country is in the …………..
Another Labour folly

– anon , brisbane, 14/6/2012 03:00

Fact of life – any government run project always finishes at least 4 x original budget because you have incompetent amateurs running the show

– angry tax payer, reality street, 14/6/2012 02:18

Rediculous waste of money when we have an failing NHS, poverty among children and the elderly being deprived of much needed care. And for what. Traffic and disruption in London and a slightly increase in tourism over 12 weeks.
Theres no way they can justify triple the original budget.
I am all for patriotism but not when people in this country have to suffer because of it!!!

– BeckyB, Bedfordshire, 14/6/2012 02:09

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