Olympic Games 2012: Finance
Olympics
Written answers and statements, 4 November 2009
Hugh Robertson (- Shadow Minister (Sport and the Olympics), Culture, Media and Sport; Faversham & Mid Kent, Conservative)
To ask the Minister for the Olympics for what reasons the programme delivery element of the Olympic budget has risen from £400 million in March 2007 to £678 million in July 2009; and if she will make a statement.
Tessa Jowell (Minister of State, Cabinet Office; Dulwich & West Norwood, Labour)
holding answer
The Programme Delivery element of the Olympic Delivery Authority's baseline budget, announced in December 2007, was £647 million. This included Delivery Partner costs which were estimated, in March 2007, at £400 million. The current forecast final cost for Programme Delivery is £677 million, a potential increase of £30 million. This increase is due to IT costs and the potential for the Delivery Partner to earn higher performance-based enhanced profits as a result of the good progress being made and the programme being on schedule and budget.