A Sky News investigation shows that the cost of the London 2012 Summer Olympic Games will be at least five times the original figure and could double again.
According to Sky, the Games will cost 12 billion pounds and additional costs could see it double to 24 billion pounds – ten times the original estimate.
London’s original bid for the Games seven years ago said the cost would be 2.37 billion pounds.
The investigation shows that additional money will have to be spent on extra anti-doping control officers, local councils for their Olympic torch relay programs and legacy schemes.
There will also have to be money paid to 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 money for UK Sport.
The 12 billion cost, as calculated by Sky, does not include extra counter-terrorism funding of 1.131 billion pounds being allocated to the police. The 4.4 billion security and intelligence services are also reportedly not included in the cost.
The government has disputed the figures saying they included money that would have to be spent regardless of the Olympics. A Department for Culture, Media and Sport spokesman said, “the Public Sector Funding Package for the Games is 9.3 billion pounds and includes all additional security, defence and public transport provision for the Games. It is simply not right to start adding on top of that budgets that would have been in existence, regardless of 2012 and claim that as being an Olympic cost.
“We have always been transparent about the cost of the Games and have rigorously managed the budget to ensure the program remains within the 9.3 billion. London 2012 is an investment in our country that is already bringing in economic benefits that would otherwise not have been possible.
“It is an incredible opportunity for the United Kingdom – not a burden”, said the spokesman.
