MPs have expressed serious concern about the ability of the government to keep to the £9.3bn Olympic budget, given that just £194m of unallocated contingency remains
In a report due out yesterday, Edward Leigh, chairman of the public accounts committee, said the financial situation was “worrying.” Last month the National Audit Office found £1.3bn of the £2.7bn contingency had been spent. In addition, all but £194m of the remainder was already allocated.
Leigh said: “It is good news that the main construction projects associated with the 2012 Games are making very good progress. What’s worrying is that the financial position is tight. Of the sum left for contingencies most is earmarked for known risks. But unforeseen problems continue to emerge.”
The report also criticises the Olympic bodies for not having yet secured long-term uses for the media centre or the Olympic stadium, and failing to guarantee the return of £650m to the National Lottery.
- FCC Elliott UK, has won the contract to fit out the international broadcast centre for the 2012 Olympics.
The winner is a joint venture between the giant Spanish contractor FCC and Irish construction group P Elliott. Its work will include the design, fit-out, maintenance of the 55,000m2 centre, as well as its dismantling after the Games are over.