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London Olympics £500m under budget

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London Olympics £500m under budget

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Spreadie

I haven't seen my friends in so long

Joined: Fri Apr 24, 2009 6:06 pm
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London Olympics £500m under budget

http://www.bbc.co.uk/news/uk-politics-18421211


	Quote: Sports minister Hugh Robertson says the London Olympics are set to come in under its £9.3bn budget with about £500m of the contingency funding left. The £9.3bn budget, which included a £2bn contingency, was set in 2007 and was almost four times the estimated cost at the time London bid in 2005.

So, the actual headline should read "London Olympics not quite four times the estimated cost afterall".

I can't believe they're going to try and spin this as good news.

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Wed Jun 13, 2012 9:30 am

bobbdobbs

I haven't seen my friends in so long

Joined: Thu Apr 23, 2009 7:10 pm
Posts: 5490
Location: just behind you!

Re: London Olympics £500m under budget

The original budget was £2.4 billion, then revised to £7.3 billion in 2007 with an extra £2 billion as a contingency. Now they are trupmteing they are coming in at £9.3 billion spent as being under budget as they haven spent all of the contigency.

mmm good sound finacial planning went into that project.

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Wed Jun 13, 2012 9:52 am

l3v1ck

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Joined: Fri Apr 24, 2009 10:21 am
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Location: The Right Side of the Pennines (metaphorically & geographically)

Re: London Olympics £500m under budget

Yeah, under the new budget after they massively increased the old one.
Are we supposed to be grateful?

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Wed Jun 13, 2012 12:01 pm

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