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Anorak | Olympics 2012 – A Financial Odyssey

Olympics 2012 – A Financial Odyssey

by | 10th, July 2007

london-olympics.gif WITH the original 2012 Olympic budget already trebled to a whopping £9billion, it comes as no surprise that a new report from the Public Accounts Committee is rather critical of the Government’s handling of the Games . (Pic: Beau Bo D’Or )

The public spending watchdog says the Government has left itself “financially exposed” over the Olympics and is at risk of letting costs spiral out of control.

Central to the criticism is the report’s claim that no single individual has overall responsibility for organising the Games.

Edward Leigh, the committee’s Tory chairman, points the finger at the Department for Culture, Media and Sport, which he sees as being ultimately responsible for overseeing all the relevant bodies.

Says he: “It is worrying, therefore, that strong arrangements for monitoring progress and managing risk are so far not in

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Posted: 10th, July 2007 | In: Money Comment | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink