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November 19, 2006

Olympics Costs

Still going up by the way:

Public support for the 2012 Olympics is in danger of draining away because costs are likely to reach an astonishing £8 billion, according to a devastating report by members of the London Assembly.
The £8bn figure is considerably higher than the £5bn revised budget for the event produced just last week.

Going up by £ 3 billion a week eh? How long before it takes all the money in the world? (320 years I think so at least it won't be that bad).

Anyone want to have a stab at an estimate for the true cost? I'll go with a round £20 billion I think.

November 19, 2006 in Your Tax Money at Work | Permalink


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What would happen if Cameron announced that if he wins the next election, govt support for the Olympics would be withdrawn?

Posted by: dearieme | Nov 19, 2006 3:24:18 PM

Usual rule of thumb in the public sector is to take the initial estimate and double it = £10 billion.

Its all part of Blair's legacy. Mind you, it might mean the end of Ken Livingston as the Mayor in the 2008 mayoral elections.

Has a nation ever pulled out of hosting an Olympics? its unprecedented, isn't it?

I still think there is a case to offshore the 2012 London Games to China!

Posted by: angry economist | Nov 20, 2006 11:02:58 AM