Post by missunited on Mar 15, 2007 13:08:54 GMT
From the BBC
Culture Secretary Tessa Jowell has told MPs the budget for the 2012 London Olympics has risen to £9.35bn.
She said £5.3bn would be spent on construction, compared with the initial £2.4bn budget and there would be a £2.7bn "contingency fund".
She also said a further £675m would be taken from the National Lottery funds - bringing its contribution to £2.2bn.
The Tories accused Ms Jowell of losing control of costs, saying the budget had trebled in less than a year.
She said a new agreement would be drawn up to ensure that the Lottery and other contributors would benefit from profit sharing based on rises in land values in the Olympic park area.
She also said that winning the Olympics had brought an extra £7bn of private sector investment to one of the most deprived areas in Europe.
Now I am all for England holding the Olympics, but surely there are other things that the English government could spend money on as well.
Culture Secretary Tessa Jowell has told MPs the budget for the 2012 London Olympics has risen to £9.35bn.
She said £5.3bn would be spent on construction, compared with the initial £2.4bn budget and there would be a £2.7bn "contingency fund".
She also said a further £675m would be taken from the National Lottery funds - bringing its contribution to £2.2bn.
The Tories accused Ms Jowell of losing control of costs, saying the budget had trebled in less than a year.
She said a new agreement would be drawn up to ensure that the Lottery and other contributors would benefit from profit sharing based on rises in land values in the Olympic park area.
She also said that winning the Olympics had brought an extra £7bn of private sector investment to one of the most deprived areas in Europe.
Now I am all for England holding the Olympics, but surely there are other things that the English government could spend money on as well.
