London Olympics comes under targeted budget!

Unbelievably the London Olympics is set to come under the mammoth budget of £9.3bn with £476m spare funding left in the piggy bank.

Obviously for the organizers this is fantastic news that the games will be on time and under budget. “Ministers expect to be able to return the remaining money to the Treasury”, I can’t help but wonder whether the British tax payer will see any of their money that they so helplessly surrendered. I very much doubt my opinion will come to fruition.

However, although organizers are celebrating the reported news, when the budget was initially announced in 2007 it was almost four times the estimated cost that won the London bid two years prior. Begs the question as to whether this is really a success story or not?!

Nationally as well as globally, this news does however bring a wealth of comfort knowing Britain can provide a construction on time and under budget, hopefully proving a timely advert for confidence to grow in the British construction market.