Olympics 2012

Culture Media and Sport written question – answered on 5th March 2007.

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Photo of Mark Hoban Mark Hoban Shadow Minister (Treasury)

To ask the Secretary of State for Culture, Media and Sport what advice PricewaterhouseCoopers provided on (a) VAT and (b) the level of contingency for the Games in their Olympics Cost Review in 2004.

Photo of Tessa Jowell Tessa Jowell The Secretary of State for Culture, Media and Sport

The PricewaterhouseCoopers (PwC) report excluded VAT and did not provide advice on it. PwC have confirmed that in respect of the construction of new venues their report included an allowance for contingencies and preliminaries amounting to 23.5 per cent. This assumption was reflected in the Candidate File. PwC made no recommendation about additional programme contingency. The figure of £272 million in the redacted version of the report in the House Library is PwC's assessment of the aggregate level of project contingency, including venues and infrastructure, at 2004 prices.

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