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Finance

Collusion or cock-up over bid costings?

Some more fascinating evidence about how the original bid costings were £5bn too low emerged from the House of Commons Public Accounts Select Committee deliberations on 14 Nov 2007.


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Rising Olympic costs slammed as catastrophic

  • Entire £2.7bn contingency fund is to be used up
  • Final London 2012 bill will be three times bid figure

The most pessimistic estimates of the final bill for the London 2012 Olympics were vindicated yesterday when the most senior civil servant involved on the project admitted that the entire £2.7bn contingency fund for the project would probably be spent.


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ODA/LDA Chaotic Project Management style

Martin Slavin writes: A consistent pattern of behaviour exhibited by ODA/LDA personnel we have encountered has become apparent to all of us who have been actively involved in the critical appraisal and/or opposition to the Olympic development. It is their chaotic project management.


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Public support for Olympics plummets

A new poll for The TaxPayers’ Alliance (TPA) shows for the first time that a clear majority of the public are now opposed to the 2012 London Olympic Games.

Coinciding with the Channel 4 Dispatches programme which raises further questions about the cost estimates of the Games, the YouGov poll asked the public to give their views on the financial risk associated with the 2012 Games, their estimate of the likely final bill, and whether they think the games will be a good investment.


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'The Olympic Cash Machine' on Channel 4

For the past six months, Dispatches has been investigating the London 2012 Olympics. Undertaking a forensic examination of who the real winners and losers are likely to be as a result of hosting the Games, reporter Antony Barnett reveals that, for a lucky few, the personal financial benefits could be huge.


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Public Accounts Committee Report on Olympic Preparations

Conclusions and recommendations

We have considered seven main areas of risk, and our specific conclusions and recommendations on each are as follows.


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Olympic panel

EXPERTS are being urged to apply for membership of a new, independent panel aimed at ensuring the legacy of the London 2012 Olympic and Paralympic Games. Specialists with experience of a major construction project or public event, and with social, environmental, and economic backgrounds are needed to form the Commission for a Sustainable London 2012.


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The factions of the circus

A material difference may be observed in the games of antiquity: the most eminent of the Greeks were actors, the Romans were merely spectators.

The Olympic stadium was open to wealth, merit, and ambition; and if the candidates could depend on their personal skill and activity, they might pursue the footsteps of Diomede and Menelaus, and conduct their own horses in the rapid career.


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