News story

London 2012 Olympic and Paralympic Games Quarterly Report

Still on time, still within budget.

From:
Department for Digital, Culture, Media & Sport and The Rt Hon Hugh Robertson
Published
20 May 2012
This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

The Government and the Olympic Delivery Authority (ODA) have published the London 2012 Olympic and Paralympic Games Budget Report.

“As we approach two years to go until the Games, and with more than two-thirds of the construction phase complete, we are in an excellent position,” said Hugh Robertson, Minister for Sport and the Olympics.

“With a little over two years to go until the Games we are in good shape - on schedule and within budget,” added David Higgins, Chief Executive of the ODA.

Main points

Deficit reduction £27m of savings will contribute to deficit reduction measures without affecting the project Funding
the public sector funding package for the Games is now £9.298bn

Final cost
the anticipated final cost is down £6m

Savings
over £100m of savings achieved in the last quarter. Around £700m total savings been achieved since the November 2007 baseline budget was agreed

Further information

Published 20 May 2012