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Warning over 2012 Olympic budget | Warning over 2012 Olympic budget |
(about 9 hours later) | |
Organisers of the London Olympics have been warned they still face "formidable challenges" which could see costs rise. | Organisers of the London Olympics have been warned they still face "formidable challenges" which could see costs rise. |
Unsigned construction contracts, the legacy of the Games and security could all affect the £9.3bn budget, the National Audit Office (NAO) said. | Unsigned construction contracts, the legacy of the Games and security could all affect the £9.3bn budget, the National Audit Office (NAO) said. |
The Olympic Delivery Authority (ODA) was urged to maintain a "firm stance" on costs as plans developed. | The Olympic Delivery Authority (ODA) was urged to maintain a "firm stance" on costs as plans developed. |
Similar concerns were highlighted in a review of preparations for the games, commissioned by mayor Boris Johnson. | Similar concerns were highlighted in a review of preparations for the games, commissioned by mayor Boris Johnson. |
In the latest report the head of the NAO, Tim Burr, noted: "The preparations for the games are well under way." | In the latest report the head of the NAO, Tim Burr, noted: "The preparations for the games are well under way." |
READ THE REPORT IN FULL href="http://news.bbc.co.uk/1/shared/bsp/hi/pdfs/19_06_08olympicprogress.pdf">Preparations for London 2012 Olympics and Paralympic Games [815KB] Most computers will open these documents automatically, but you may need Adobe Reader Download the reader here | |
But he said: "Important challenges remain which will become more formidable as the spotlight turns to London after the Beijing Games." | But he said: "Important challenges remain which will become more formidable as the spotlight turns to London after the Beijing Games." |
It highlighted the lack of a deal for construction of the Olympic village in east London, which is expected to cost more than £1bn. | It highlighted the lack of a deal for construction of the Olympic village in east London, which is expected to cost more than £1bn. |
Also noted was that plans for individual venues, including the main stadium, after 2012, were yet to be finalised. | Also noted was that plans for individual venues, including the main stadium, after 2012, were yet to be finalised. |
The NAO said there was no "firm basis" for security arrangements and costed plans from the government were not anticipated until the end of the year. | The NAO said there was no "firm basis" for security arrangements and costed plans from the government were not anticipated until the end of the year. |
All these factors, the report said, "may add cost, or compromise the preparations for a successful games". | All these factors, the report said, "may add cost, or compromise the preparations for a successful games". |
The report warned: "There will be a risk of cost overruns and loss of time unless a firm line is adopted on subsequent calls for changes in the designs for the venues and infrastructure." | The report warned: "There will be a risk of cost overruns and loss of time unless a firm line is adopted on subsequent calls for changes in the designs for the venues and infrastructure." |