London Games to top $15 billion

Bloomberg
reports that London’s 2012 Olympic Games will cost at least 15 billion
pounds ($29 billion), or 40 percent more than the latest government
estimate, because of rising security, construction and land
contamination costs, said two members of the city’s legislative
assembly. The government presented its first spending plan for the
Games since the city was selected as host when Culture Secretary Tessa
Jowell said on March 15 that the Olympics will cost 9.3 billion pounds,
or about three times the original bid estimate. And some believe it
will cost more. “These costs can only go one way and that’s up,” said
assembly member Bob Blackman in an interview. “We think they could be
15 billion to 17 billion” pounds.”