Jowell unveils Olympics figures
In a statement to Parliament, Jowell insisted that the project is on schedule
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Monday, 10, Dec 2007 08:41
Olympics minister Tessa Jowell insists the 2012 games in London will be within the current £9.3 billion budget.
Ms Jowell revealed a breakdown of the budget today including how much is spent on building the main stadium and other venues along with security and transport.
The Olympic Park in east London will cost £1.9 billion including power lines, bridges and roads.
About £496 million will be spent on the Olympic Stadium with £1.7 billion allocated for other venues.
Venues in areas away from the Olympic Park will cost a further £101million.
There were fears that the taxpayer would have to cough up even more to deal with the expanding budget.
Ms Jowell said the Government is keeping its promise of keeping the public up to date with the cost of the games.
"This statement shows that after a thorough assessment of all the potential risks associated with a development of this scale, the budget is consistent with the funding package I outlined in March this year," Ms Jowell said.
"Months of careful scrutiny have confirmed that the Olympic Delivery Authority has the money it needs to deliver the venues and infrastructure for a terrific summer of sport, as well as leaving a long-term legacy for one of the most deprived parts of the country.
"Now we look ahead to what will be a dramatic 2008, with the first building work starting on the Olympic Park site, the Beijing Games and the start of the four-year countdown to London 2012. The project has high levels of public support and is on track."
Shadow Olympics minister Hugh Robertson claimed today's budget was a huge disappointment because it lacked transparency.
"The obvious omission is any mention of the mass participation sports legacy which was the key commitment in the London 2012 bid but, as yet, remains [without a cost] and unfulfilled.
"Monthly cash-flows and a breakdown of the contingency are also needed if we are to ensure the budget doesn't increase further."