MPs blame London Olympic organisers for spending money ‘like water’ on Aquatics Centre
Accountancy Age, 05 May 2008
The culture, media and sport select committee's latest report into the Olympic Games commends the progress made by LOCOG, the Olympic Delivery Authority and the London Development Agency, but the government's funding and planning of the event has again attracted scathing criticism from MPs.
The report on the games also claims the contingency fund for the Games is almost £1bn more than the Government has admitted, sportslife.com reports.
The Aquatics Centre in particular has been singled out by the MPs for its cost blow out from the £75m put forward at the London bid, to the final £242m announced earlier this month.
‘It appears to be over-designed... and an expensive way of providing the facilities for water sports needed during and after the Games,' the report notes. ‘The history of the Aquatics Centre shows a risible approach to cost control and that the Games organisers seem to be willing to spend money like water.’
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