Rising Cost of the Olympics

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Sunday 4 February 2007 7.04am
I see from The Times today that the cost of the Olympics in 2012 has doubled to some 5.5 billion. Could I ask whether all of those who sneered at those of us who were against our bidding for the Olympics are still so sure of their ground? If the official figure is quoted at 5.5 billion, you can bet it'll be more than that. Was this/is this SUCH a great thing? Not to my mind.
Sunday 4 February 2007 8.58am
Many of the venues would have had to be built any way, even if we weren't hosting the Olympics.
because of the Olympics there is greater scrutiny of the cost. And completion deadlines have to be met.
Sunday 4 February 2007 9.30am
Plus the cost of the “proposed” cross-river tram, quoted at 650m (based on 2006 prices).
Sunday 4 February 2007 10.59am
I think the estimate is still very conservative. 10 billion seems much more plausible. One has only to think about what has happened at Wembley or indeed to Arsenal's Emirates stadium to see cautionary examples of the spiralling costs involved.
Sunday 4 February 2007 3.29pm
jackie rokotnitz wrote:
Could I ask whether all of those who sneered at those of us who were against our bidding for the Olympics are still so sure of their ground?

Well, I didn't sneer, but I still think that it is a good thing (even if the total price tops out at around $10B), am looking forward to it loads (and I am not even very sportif). Will be good fun and the regeneration stuff needed to be done to that bit of london.

Would you like to go with me?
Where?
Wherever I'm going
Are you *really* asking?
Is that your *real* answer?
Monday 5 February 2007 8.45am
All those in favour, get out your cheque books. All those opposed, you don't have to pay the cost, but promise you won't ever step foot in an olympic facilities...
Monday 5 February 2007 9.21am
Considering where they are situated it would be very unlikely!!

well at least we will have a legacy to hand to our children as promised-shame it will be a massive debt for Londoners to pay off for years to come!!
Monday 5 February 2007 9.37am
longlaner wrote:
or indeed to Arsenal's Emirates stadium to see cautionary examples of the spiralling costs involved.

Wasn't the Emirates Stadium built within budget and that was one of the reasons why the firm behind that won the contract to build the Olympic Stadium?

One of the major possible increased costs is whether VAT will apply to the Games or not - but it is beyond me why this should be a major concern seeing as if it does apply then the money will all come back to the exchequer anyway.

As to the rest of the cost increases - I suspect that at the very least the Mayor and Tessa Jowell weren't being completely open about the real implications of bidding for the Olympics when they were engaged in their (to me) odious 'back the bid' campaign.
Monday 5 February 2007 2.07pm
I may be wrong about the Emirates. It ended up costing 390 million, which is more than I remember being estimated when the project began. Could be my memory deceiving me.
Saturday 24 February 2007 10.24am
BLIMEY. Now it's gone up to FOUR times the original estimate. ANd we're only in 2007...watch this space. Are you all STILL in favour of this overblown extravaganza?
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