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BBC News – London 2012: MPs’ concern over Olympic security costs

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MPs have raised concerns the London 2012 Olympics may go over budget and said it was “staggering” initial estimates about security costs were so wrong.

The Public Accounts Committee’s report also warned the stadium must not become a white elephant.

The government insists it is confident the event will come in under budget.

The Games and legacy projects are expected to cost about £11bn, the report said.

Margaret Hodge, who chairs the Public Accounts Committee (PAC), said: “The venues and infrastructure of the London Olympic Games are on track to be delivered on time and within budget.

“The Olympic Delivery Authority’s management of the building programme has been exemplary.

“However, the £9.3bn public sector funding package is close to being used up and we are concerned about whether the running of the Games will be held within budget.

“Taking into account costs outside the package, the full cost to the public of the Games and legacy projects is already heading for around £11bn.”

‘Weak negotiating position’

Mrs Hodge said the committee was “particularly concerned” about the significant increases in the security bill.

“Locog (the London organising committee) now needs more than twice the number of security guards it originally estimated and the costs have roughly doubled.

“It is staggering that the original estimates were so wrong.”

via BBC News – London 2012: MPs’ concern over Olympic security costs.

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Written by edparnell

March 9, 2012 at 12:32 am

Posted in Events

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