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Olympics 2012

Volume 457: debated on Monday 5 March 2007

11. To ask the Secretary of State for Culture, Media and Sport when the revised budget for the 2012 Olympic games will be published; and if she will make a statement. (124571)

12. To ask the Secretary of State for Culture, Media and Sport what recent estimate she has made of the cost of hosting the 2012 Olympic games in London. (124572)

19. To ask the Secretary of State for Culture, Media and Sport what her most recent estimate is of the budget for the London Olympics. (124579)

Work is still under way on a number of issues, including security, contingency and the question of tax liability. I hope to be able to make an announcement in due course, when this work is concluded.

To ask the Secretary of State for Culture, Media and Sport pursuant to the answer of 29 January 2007, Official Report, column 104W, on the Olympics, what each cost saving identified between July and October 2004 was; and what the value of each saving was. (120562)

Reductions in the region of £235 million were identified in the costs of Infrastructure and Legacy Conversion in the period July to October 2004.

To ask the Secretary of State for Culture, Media and Sport pursuant to the answer of 5 February 2007, Official Report, column 713W, on the London Olympics, if she will place the minutes of all meetings of the Budget and Revenues Sub-Group in the Library. (122983)

The remit of the Budget and Revenues Sub-Group (February 2004 to July 2004) was to look at the costs, revenues and strategic issues affecting the proposed Olympic budget prior to the bid. The notes of the meetings of the sub-group contain information which is directly relevant to current commercial negotiations which could be prejudiced by its release.

To ask the Secretary of State for Culture, Media and Sport what effect an overspend on the Olympics would have on the National Lottery. (124794)

The Government are considering how additional Olympic costs should be met. No conclusion has yet been reached about any further lottery contribution to the Games.

To ask the Secretary of State for Culture, Media and Sport when she expects the revised Olympic budget to be published; and if she will make a statement. (124138)

Work is still under way on a number of issues, including security, contingency and the question of tax liability. I hope to be able to make an announcement in due course, when this work is concluded.

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. (111932)

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.