Friday, March 16, 2007

Your cut out and keep guide to spiralling Olympic costs

Courtesy of the BBC:
  • 2003: Consultants Arup put total cost of building and staging the Games at £1.796bn
  • 2003: Tessa Jowell launches bid in May telling MPs it will cost £2.375bn - including a 50% contingency
  • 2005: Bid succeeds in July with "prudent" estimate of preparing for games of £2.4bn
  • 2006: Tessa Jowell says Olympic Park costs up to £3.3bn
  • 2007: Olympic Park budget now at £5.3bn - including regeneration and infrastructure
  • 2007: Total budget, including contingency, security and tax, reaches £9.35bn

2 comments:

Highwaylass said...

I was supporting Paris.

Andyt said...

As this is a project that will not be allowed to fail, the costs can only increase as construction firms etc will hold the taxpayer over a barrel. I'm sure economists already have a word to describe the phenomenon, but can we add 'Olympflation'?