London 2012 Olympics is just £6.4bn over budget

  • Olympics Minister Hugh Robertson said it
    was a ‘significant achievement’
  • Had a £9.3billion budget so his boast was declared ‘disingenuous’ by critics, who pointed to the initial estimate of £2.4billion made by the Labour Government when London won the bid in 2005
  • Today the Olympic torch is making its
    way south after taking in some of Scotland’s most famous landmarks
    during a week-long tour
  • Announced today: Olympic torch relay will visit the London residences of both the Queen and Prime Minister on the day before opening ceremony

By
Daily Mail Reporter

19:16 EST, 13 June 2012

|

06:12 EST, 14 June 2012

The Government yesterday issued a glowing report on the Olympics coming in under budget – despite the cost being almost four times the original estimate.

Olympics Minister Hugh Robertson said it was a ‘significant achievement’ that spending on the 2012 Games was expected to come in £476million under its £9.3billion budget.

But his boast was declared ‘disingenuous’ by critics, who pointed to the initial estimate of £2.4billion made by the Labour Government when London won the bid in 2005.

Costly: An aerial view shows the construction starting for the Olympic opening stage designed by Danny Boyle at the Olympic Stadium yesterday

Costly: An aerial view shows the construction starting for the Olympic opening stage designed by Danny Boyle at the Olympic Stadium yesterday

This had ballooned to £9.325billion by 2007, leading to claims that the public was duped over the true cost – or that an overly generous budget had been created to ensure it would not be exceeded.

Nevertheless, Mr Robertson used the final quarterly update on Olympic finances before the London Games to say: ‘The project is in an extraordinarily good place financially.

‘We are in the process of delivering the largest logistical exercise outside a major war and we have done it on time and under budget, and that’s a fantastic calling card for this country.’

Day 26: Sally Hyder carrying the Olympic Flame on the Torch Relay leg between Edinburgh and Duddingston - today the Olympic torch is making its way south after taking in some of Scotland's most famous landmarks during a week-long tour

Day 26: Crowds waited on the Royal Mile for a glimpse of the flame as it was carried by wheelchair user Sally Hyder along with her assistance dog Harmony, from Canongate Kirk to Holyrood

Olympic spirit: Local schoolchildren cheering in Dalkeith during day 27 of the torch relay

Olympic spirit: Local schoolchildren cheering in Dalkeith during day 27 of the torch relay

Sarah Munro carrying the Olympic Flame on the Torch Relay leg between Edinburgh and Duddingston

Kai Wong carrying the Olympic Flame

Day 27: Today the Olympic torch is making its way south after taking in some of Scotland’s most famous landmarks during a week-long tour

He added that there was a
‘recognition right from the word go that [the £2.4billion estimate]
would have to change dramatically on the basis of delivering the Games’.

The figure did not include costs for security, VAT, the regeneration of East London or contingency funds.

Yesterday also saw the disclosure that a further £19million would be spent on security.

The
decision was made after ministers were ‘surprised’ at the huge turnout
for the Queen’s Diamond Jubilee river pageant, which saw 1.2million
people line the banks of the Thames despite poor weather.

The
scenes sparked fears of over-crowding during the Games, particularly
around the cycling road races during the opening weekend.

The
Government has already revised  the cost of security once, allocating
an extra £271million to almost double the initial £282million put aside
after the organising committee said it needed thousands more security
guards. 

Day 26 of the torch relay: Torchbearer 002 Joseph Forrest and children from Madras College, run along West Sands beach with the Olympic Torch in St Andrews, Scotland, yesterday

Day 26 of the torch relay: Yesterday a group of youngsters re-enacted the famous scene from Chariots of Fire on West Sands Beach in St Andrews

The 1981 film opens with a classic scene of British runners churning through waves and sand to the soaring strains of music by Vangelis

Film: The 1981 film opens with a classic scene of British runners churning through waves and sand to the soaring strains of music by Vangelis

Proud: But yesterday is was also revealed that the security bill for the Games had swollen by a further £19million amid fears London's streets may be overcrowded

Proud: Joseph, 13, was followed by 20 pupils from Madras Primary School. He said: ‘I was kind of nervous before it because there’s loads of people here but I’m all right now’

The torch was taken into the arena by Lesley Forrest, who lit a cauldron on stage towards the end of the show.

Winner: In Edinburgh the torch was taken into the arena by Lesley Forrest, who lit a cauldron on stage towards the end of the show. Ms Forrest, 54, is a multiple medallist in both the British and World Transplant Games

It was announced
today The Olympic torch relay will visit the London residences of both
the Queen and Prime Minister on the day before the opening ceremony next
month, organisers said on Thursday.  

'Disingenuous': Olympics minister Hugh Robertson

‘Disingenuous’: Olympics minister Hugh Robertson

Providing details of the
penultimate day of the relay on July 26, they said 175 torchbearers
would take the flame from Camden in north London to Westminster via
Downing Street and Buckingham Palace.   

Queen Elizabeth is due to
open the Games on July 27, when a cauldron will be lit at the Olympic
Stadium in east London, in what will also be a family affair.   

Her
daughter Princess Anne is president of the British Olympic Association
while grand-daughter Zara Phillips has been nominated to compete for the
Team GB equestrian squad. 

The flame will also visit St Paul’s Cathedral, Shakespeare’s Globe Theatre, pass Battersea Dogs Home and travel to the site of the 1908 Olympic Stadium in White City on the penultimate day.   

The torch relay is currently in Scotland on the 27th day of a tour around Britain.    

Yesterday thousands of people lined the streets of Scotland’s capital to greet the Olympic Flame on its last full day north of the border.

Thirteen-year-old Joseph Forrester, trailed by 20 schoolchildren, carried the torch along West Sands beach in St Andrews to recreate the opening scene of Chariots of Fire.

The 1981 film opens with a classic scene of British runners churning through waves and sand to the soaring strains of music by Vangelis.

The title of the film comes from a refrain in the classic Christian hymn Jerusalem, which is sung later in the film.

Home turf support: British Airways has created a giant image of British World Champion heptathlete Jessica Ennis on the flightpath to Heathrow

Home turf support: British Airways has created a giant image of British World Champion heptathlete Jessica Ennis on the flightpath to Heathrow

In Edinburgh, onlookers crowded into the top of the Royal Mile to catch a glimpse of the flame, while thousands more took their seats at the Castle Esplanade for an outdoor celebration and concert.

Pop singer Emeli Sande headlined the event, which also featured acrobatic performances, dance displays and community acts.

The musician performed a selection of her new songs and well-known hits, including Heaven and Next to Me.

The torch was taken into the arena by Lesley Forrest, who lit a cauldron on stage towards the end of the show.

Royal visit: The Prince of Wales and his wife, the Duchess of Cornwall, talk with Nadine Homewood, 21, (on trike) and Jordan Campayne, 27, (left), during a tour of the Olympic Park, in east London yesterday

Royal visit: The Prince of Wales and his wife, the Duchess of Cornwall, talk with Nadine Homewood, 21, (on trike) and Jordan Campayne, 27, (left), during a tour of the Olympic Park, in east London yesterday

Ms Forrest, 54, received a kidney transplant in 1996 and went on to become a multiple medallist in both the British and World Transplant Games.

Reflecting on the experience, she said: ‘I was getting to the point where it was quite emotional and I thought I would have a few tears, but the crowd just brings you along and I was just so overwhelmed and excited about it all.

‘I think the torch has really pulled all the communities together; you just have to look at Edinburgh today. I think it’s gathered momentum and everybody now will be watching the Olympics.’

Today the Olympic torch is making its way south after taking in some of Scotland’s most famous landmarks during a week-long tour.

Lighting up: The city of Newcastle prepares for the Olympic torch relay by displaying the Olympic rings on the famous Tyne Bridge

Lighting up: The city of Newcastle prepares for the Olympic torch relay by displaying the Olympic rings on the famous Tyne Bridge

Work of art: Made of aluminium they are approximately 25m wide by 12m high making them the largest set of metal Olympic Rings in the UK. Each Ring has a width of 720mm and will be 375mm in depth

Work of art: Made of aluminium they are approximately 25m wide by 12m high making them the largest set of metal Olympic Rings in the UK. Each Ring has a width of 720mm and will be 375mm in depth

Crowds lined Edinburgh’s Royal Mile as the torch was carried past the Scottish Parliament on its 140.2-mile journey from the Scottish capital to Northumberland.

Day 27 of the relay finishes with a party at Alnwick Castle – used in the Harry Potter films.

OLYMPIC TORCH  ROUTE TOMORROW: DAY 27

A total of 8,000 people are to carry the
flame during its 8,000-mile, 70-day journey to the opening ceremony of
the Olympic Games in London on July 27.

Tomorrow the route will start in Alnwick and finish in Newcastle upon Tyne.

It is being carried by 130 torchbearers through 24 communities including Musselburgh, Dalkeith, Lasswade, Loanhead, Bilston, Milton Bridge and Penicuik.

The torch is also visiting Eddleston, Peebles, Innerleithen, Walkerburn, Selkirk, Galashiels, Earlston, Gordon, Greenlaw, Duns, Chirnside, Foulden, Berwick-Upon-Tweed and Bamburgh.

The day’s first torchbearer was 16-year-old Raquel Matos from Edinburgh, who started the flame at the city’s Festival Square. She was nominated for her swimming achievements.

Many schoolchildren waited on the Royal Mile for a glimpse of the flame as it was carried by wheelchair user Sally Hyder along with her assistance dog Harmony, from Canongate Kirk to Holyrood.

The 49-year-old, from Edinburgh, has multiple sclerosis and was nominated for the work she does to promote the charity Canine Partners.

Later in the day Olympian Allan Wells, 60, carries the flame in Selkirk.

He won gold in the 100m at the 1980 Olympics in Moscow. In Galashiels it will be carried by Chris Paterson, Scotland’s most-capped rugby player.

The torch arrives in the border town of Berwick-upon-Tweed at around 4.30pm, taking in the splendour of Bamburgh Castle above the beach on the North Sea.

Finally torchbearers will run around Alnwick, Northumberland, and end their relay at the town’s castle.

The Olympic Torch arrived in Scotland on June 7 by ferry from Northern Ireland and set off the next day.

Its journey through the country began in Stranraer and headed to Stornoway, Orkney, Shetland and down the east coast, taking in Loch Ness, the Falkirk Wheel, the Forth Road Bridge, Stirling Castle and the Old Course at St Andrews.

A total of 8,000 people are to carry the flame during its 8,000-mile, 70-day journey to the opening ceremony of the Olympic Games in London on July 27.

Here’s what other readers have said. Why not add your thoughts,
or debate this issue live on our message boards.

The comments below have not been moderated.

That’s perfectly Ok with me,
As long as Hugh Robertson is prepared to pay for the £6.4billion overspend himself.
And not expect the taxpayers to pay for this gross amount.

Is nobody happy about the Olympic games coming to London or proud to be British? I was feeling disaffected earlier in the year, I don’t know, call me sentimental or silly, but watching bits of the jubilee celebrations and getting excited about hosting the olympics all in the same year is having a positive effect. On a practical level, large parts of the east end have been regenerated and sport rather than video games will preoccupy the nations children if only for 2 weeks. I believe hosting the games is a good thing and I’m proud that we will be. Red arrows

We’ve been robbed plain and simple. Alot of that money has just disappeared in to the pockets of these contractors. Im refusing to have anything to do with this weird pagan festival, something about the way it’s being pushed on us just feels wrong.

More waste of money……. lets not forget who lied to get the bid…… Jowell and co!!!

The most expensive party in the world….for £10.6billion we get two weeks of gridlock guaranteed…what a bargain….!

£9.3 billion is a drop in the ocean for GB Ltd. To put it into context, in 2011 the national debt was £1,278 billion with annual interst of £43bn, or 3% of GDP. Sit back, think of England and enjoy it. You will be talking about it for years to come. It is a small price to pay!

When the Olympics were ‘won’? we were told they would cost £2.5bn. What a lying bunch of b******s our politicians are. Ain’t that a surprise. The true cost will be many billions more, and for what?

Just think how many nurses, doctors, policemen, firemen, soldiers, teachers that money could have funded. Both the Tories and Labour have screwed up priorities if they think running around in circles is more important than education or healthcare.

scrap some of the quangos, to make up the overspend. Let it come out of the rich pickings of mp’s relatives and friends in the quango clubs, instead of the overburdened tax payers.

Let me get the correct….. This country is supposedly in a dire financial mess, there is not enough money for more doctors, nurses or hospitals; there is not enough money for more teachers or schools; there is not enough money to repair our appalling roads. BUT there is plenty of money available – billions – to pay for the Olympic games, this is a gross misuse of public money when it is so clear that it should be spent on things that this country desperately needs.

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