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| Version 0 | Version 1 |
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| MPs 'to criticise' 2012 finances | MPs 'to criticise' 2012 finances |
| (about 2 hours later) | |
| The government's handling of finances for the 2012 London Olympic Games is expected to be criticised in a report published by MPs. | The government's handling of finances for the 2012 London Olympic Games is expected to be criticised in a report published by MPs. |
| The costs of building venues for the games has risen by more than £900m to £3.3bn but there is no indication yet how the funding gap will be bridged. | The costs of building venues for the games has risen by more than £900m to £3.3bn but there is no indication yet how the funding gap will be bridged. |
| Some £1.5bn lottery cash is earmarked for building and staging the games. | Some £1.5bn lottery cash is earmarked for building and staging the games. |
| The Culture, Media and Sport Select Committee is expected to call for a cap on lottery spending on the event. | The Culture, Media and Sport Select Committee is expected to call for a cap on lottery spending on the event. |
| Still confident | Still confident |
| But the report's publication on Wednesday comes in the month the government indicated it may dip into National Lottery funds to make up for the shortfall in the final budget. | |
| It accepted such a decision would mean loss of income to non-Olympic good causes but said the benefits of staging the games will far outstrip the costs. | It accepted such a decision would mean loss of income to non-Olympic good causes but said the benefits of staging the games will far outstrip the costs. |
| Meanwhile, the 2012 organising committee chairman Sebastian Coe has said he was "very confident" the International Olympic Committee will be happy with progress when its co-ordination commission visits London in June. | Meanwhile, the 2012 organising committee chairman Sebastian Coe has said he was "very confident" the International Olympic Committee will be happy with progress when its co-ordination commission visits London in June. |
| "The issues around costs are in no way related to the progress being made," he said. | "The issues around costs are in no way related to the progress being made," he said. |
| Speaking exactly 2,012 days before the opening ceremony of the London Olympics, Lord Coe said: "The designs and contracts for big five venues - the Olympic Stadium, aquatics centre, Olympic village, velopark and broadcasting and press centres - are well under way." | Speaking exactly 2,012 days before the opening ceremony of the London Olympics, Lord Coe said: "The designs and contracts for big five venues - the Olympic Stadium, aquatics centre, Olympic village, velopark and broadcasting and press centres - are well under way." |
| He said work has already begun on the aquatics centre site and construction of the other projects should start by next year. | He said work has already begun on the aquatics centre site and construction of the other projects should start by next year. |