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Olympic Budget spin

RayCun · 2012-10-23 13:02:49

You have to laugh... The headline on a news story in the Guardian today is But in 2007, the cost was estimated at £6.4bn and if you go back to when the bid was launched... so the Games cost £6.5bn more than expected when the bid was put in, but £377 million less than someone said in the summer, therefore 'under budget'!

23-10-2012 01:02PM

#1

RayCun

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Posts: 15378

You have to laugh...

The headline on a news story in the Guardian today is

London 2012 Games comes in £377m under budget
...The overall cost of the Games is forecast to be £8.921bn from a budget of £9.298bn...

But in 2007, the cost was estimated at £6.4bn

and if you go back to when the bid was launched...

...Under it London council taxpayers would contribute up to £800 million, the London Development Agency up to £500m and the Lottery another £1 billion of the total £2.3bn potential cost....

so the Games cost £6.5bn more than expected when the bid was put in, but £377 million less than someone said in the summer, therefore 'under budget'!

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