Cash to increase security of permanent venues is announced as transport budget soars by £18m in three months
Olympic organisers have released a further £19m from the 2012 contingency pot in order to ramp up the security of permanent venues, it was announced today.
The funds will be mostly spent “hardening modifications to existing structures”, the Department for Culture, Media and Sport said as it published its quarterly economic report on the games.
The report also revealed that the anticipated budget for Olympic transport projects has increased by £18m in the last three months and highlighted “potential cost pressures” on other projects in the park following a reveiw of vehicle screening, accreditaion areas and transport malls.
However, the government said the overall budget for the Olympic Delivery Authority remained unchanged at £7.23bn as increased costs would be offset by savings achieved elsewhere.
It said: “Potential cost increases will be met in full or in part by the use of retained savings – achieved from efficient delivery of the site platform – so there is likely to be minimal impact on the anticipated final cost.”
Around £700m (35%) of the 2012 contingency fund has now been used. As of the end of June, £1.28bn remained available.