Boris Watch On Olympic Sized Bill

By Londonist Last edited 110 months ago
Boris Watch On Olympic Sized Bill
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Like a newly elected mayor with a point to prove, new London Mayor, Boris Johnson, has continued his pledge to lower the ever spiralling cost of the 2012 Olympics. Earlier this month he raised concerns that organisers of the games were failing to create a legacy master plan regarding facilities.

Now, a review commissioned by the mayor has found that the cost of the Olympic Stadium alone has reached £525m – almost double its original projected price (anyone in favour of a tax increase?).

The report also mentions that the credit crunch, falling house prices, the rising cost of oil and the threat of terrorism are likely to put pressure on the final cost of London 2012 (no doubt global warming and military costs have found their way onto the committee’s chalkboard as well).

Boris’s nominee on the Olympic organising committee board, David Ross, says that the “excessive spending” of the previous administration has been curbed, and due to reductions elsewhere, the final cost has recently seen a “small increase...of only £16m”. There’s nothing like being frugal is there?

Let’s hope that when 2012 comes around, tax-paying spectators can actually afford to turn up and support the spectacle that they paid for.

By Laurence Brown

Latest shot of the Olympic site courtesy of Diamond Geezer's Flickrstream.

Last Updated 18 June 2008

diamond geezer

Comparisons with the original projected price are flawed. All prospective host cities were asked to put forward stadium prices at 2004 costs, not 2012 costs.

Admittedly London didn't put forward very well thought-out estimates, but equally nobody was expecting four bombs on the transport network less than 24 hours after winning the Games.

And even £525m works out at less than a tenner from everyone in the country. When you think how much many people spend on beer, burgers and fags every week, it's not as much as it sounds.

esotericbadger

Ahh - but that's the cost for the stadium only - note that's not 'stadia', just the main one, and that £525m is roughly the amount the UK spent on flood defences in 2007 - which was quite a big year for flooding, all told. Just to put it in context.