The True Cost Of The London 2012 Olympics

The True Cost Of The London 2012 Olympics

What is the true cost of the London 2012 Olympics to all UK taxpayers? Here is the answer – somewhere between £12bn and £24bn, once you’ve added in all the things that are not counted as part of the Olympics budget, but are 100% dependent on the Olympics. It’s FRAUD against taxpayers to deliberately mis-represent the costs, but the politicians are above the law, so no charges will be brought against any of them.
The true cost of staging the 2012 Olympics is five times the figure given when London won the bid in 2005.

A Sky investigation has revealed the final cost for the Games will be more than £12bn. However, associated costs will make the bill as high as £24bn – a staggering 10 times the original estimate. When London bid for the Games seven years ago the predicted cost of staging the Olympics and Paralympics was put at £2.37bn. The original public sector funding package, which is primarily cash to build the venues and provide security and policing, was increased in 2007 to about £9.3bn following a review. Sky has counted an extra £2.4bn on top of the current £9.3bn public sector funding package for the Games. The additional cash includes spends on more anti-doping control officers, money for local councils for their Olympic torch relay programmes, cash spent on legacy schemes, paying tube workers not to strike, governmental operational costs, the cost of the Olympic Park Legacy Company, legal bills over the stadium tenancy decision and extra pounds to UK Sport. The figures also take into account the cost of buying the land for the venues at £766m.

Added on: July 24th, 2012

Category: CORPORATE, MONEY, NEWS

 
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