London 2012 chairman Sebastian Coe has insisted preparations for the Olympic Games remain within budget after a report claimed that the cost of staging the event has increased to more than £12 billion.
The UK government’s public sector budget for the Games totals £9.3 billion, which includes all venue construction and infrastructure projects. That figure has already risen from the £2.37 billion quoted when London won the right to stage the Games seven years ago, and Sky News on Thursday reported that an additional £2.4 billion has been added to public sector spending.
