£100 Million Per Month On Olympics

A total of £100 million a month is currently being spent on building work for the London 2012 Games, Olympics Minister Tessa Jowell revealed last week.

She said recently: "The Delivery Authority (in charge of Olympic build and infrastructure) is now spending at the rate of £100 million a month, 23% of the construction having been committed and only 9% of the contingency to this date."

"The Exchequer is contributing 64% of that cost, the Lottery is contributing 23%, broadly in line with Lottery contribution to the Millennium and London taxpayers are contributing somewhere around 11% of the total...The budget is identified and remains the same now as it did when I made the revised budget which I said we would always have to do. There is no more money and as I have said before we are on time and on budget." She Added

She told local authority officials at a London conference there would be "no more public money" for the £9.325 billion budget which is treble original estimates.