London 2012: Games to be delivered under budget

Sarah Shaffi, Olympics editor (news) Wednesday, June 13, 2012
2:36 PM

An additional £19million is to be spent on crowd management during the London 2012 Games, but they will still be delivered under budget.

The government’s last quarterly economic report before the Games shows the overall funding package for the Games remains at £9.298billion, with £476m of uncommitted contingency available, which will go back to the Treasury.

The extra £19m for crowd management will include spending on additional stewards and crowd flow measures, and will also include improvements to public information in the centre of the capital and the “last mile” - the distance between transport hubs and Games venues.

Minister for Sport and the Olympics Hugh Robertson said: “With a matter of weeks to go until London 2012 we are in a strong place.

“The transformation of the previously contaminated land into the Olympic Park on time and under budget is a great success story for UK plc.

“I would like to thank all those who have worked so hard to deliver this project in such an exemplary manner.

“We can now look forward to a summer of sport built upon the firm foundations set down by the ODA, LOCOG and everyone else involved in the project.”

The anticipated final cost of the Olympic Delivery Authority’s (ODA) construction and transport programme is £6.761bn.

Dennis Hone, chief executive of the Olympic Delivery Authority, said: “Our marathon task of building an Olympic Park fit for champions is almost at an end.

“The finish line is in sight but we have still got work to do, supporting the London Organising Committee in the next month and during the Games.

“The finishing touches are being put to this stage for the world’s best athletes – but we want the audience to be thrilled too: not just the spectators this summer, but the people who will live, work and play in the Olympic Park for decades to come.”

The Olympic Park and Village were transferred from the ODA to the London Organising Committee of the Olympic and Paralympic Games (LOCOG) in January, to allow them to prepare the venues for staging the Games.

Funding made available to LOCOG has increased by £29m in the quarter, as a result of these transfers from the ODA, and for additional infrastructure works.

The remaining balance of contingency within the public sector funding package now stands at £388m, with an additional £88m available to the ODA in programme contingency to cover assessed risks.

In total, this leaves £476m of uncommitted contingency remaining.