Olympic Costs Could Be Cut By £29m

The Government and the Olympic Delivery Authority has confirmed that the cost of buildings and infrastructure for the Olympic Games could decrease by £29m.??

The figures, published in the latest London 2012 Olympic and Paralympic budget report, come as the Government’s spending review cut £20m from the ODA budget.??

£7m of that figure was due to the Government abandoning plans for the plastic wrap around the Olympic Park stadium.??

‘The ODA has continued to drive down costs and deliver savings despite this being the most complex year in construction terms,’ said Hugh Robertson, Minister for Sport and the Olympics.

‘The saving of £20m identified in the Spending Review has been achieved with little material impact to the programme.’

‘The ODA’s management of the construction programme has allowed us to open-up the funding package and contingency for cross-programme issues as we enter the operational phase.’??

The budget also confirmed that the public sector funding package for the Games remains at £9.298bn and that there is also £1,143m of contingency still available – as well as confirming that construction for the Games is 75% complete.