Olympics budget rises to £9.3bn

[Setarime]

Culture Secretary Tessa Jowell has told MPs the budget for the 2012 London Olympics has risen to £9.35bn.
She said £5.3bn would be spent on construction, compared with the initial £2.4bn budget, while a "contingency fund" would add another £2.7bn.

She also said a further £675m would be taken from the National Lottery funds - bringing its contribution to £2.2bn.

Quote from BBC News Website

http://news.bbc.co.uk/1/hi/uk_politics/6453575.stm

This is silly amounts of money!!! I was always under the impression that lottery grants were supposed to be to charities How many average people will be able to afford to go to any of the olympic events

[TGLucario]

geez, same here, i fought that the lottery was 4 charity & that!

[glyndwr1969]

Hate to say it but I thought their initial estimate of 2.4 billion was low. Its coming to something when you think 2.4 billion is not enough!

[stubacca68]

it seems alot but is there some part of media only telling you what they want here? what are the predictions for the income that will be generated by the olympics, tourism due to the olympics, sponsorship, cuts in benefits due to the number of jobs that will be created by the games? Maybe the overall costings will be that high but if the money generated by the games is hight to then surely take them away and look at the actual cost

[Mysticsniper]

Originally Posted by stubacca68

it seems alot but is there some part of media only telling you what they want here? what are the predictions for the income that will be generated by the olympics, tourism due to the olympics, sponsorship, cuts in benefits due to the number of jobs that will be created by the games? Maybe the overall costings will be that high but if the money generated by the games is hight to then surely take them away and look at the actual cost

I agree, the tourism and the sponsership, plus the TV rights will and should cover the cost of the total price, which will end up around £10bn