It depends on what they meant by cost.

Some of the cost is part of the project but is primarily a regeneration element. This isn't a direct Olympic cost. That accounts for most of the variance between what they said the Olympics would cost and what you actually have to pay out. Large part of that will come out of other budgets and be managed through the Olympic one. Is, for example, upgrading the transport links an Olympic cost or an infrastructure one?

VAT was expected to be waived and is an irrelevance in terms of cost. Comes out of one Government hand and back in the other.

Security upgrade was unexpected.

And a contingency won't necessarily be spent.

Posted By: Johnny Comecardiff, Mar 15, 17:37:09