To ask the Minister for the Olympics for what reasons the cost of the other Olympic Park venues has fallen from £446 million to £337 million in her May 2009 London 2012 Quarterly Economic Report compared with the previous report. (279838)

The main reason for the reduction of £109 million is that £94 million, relating to the Velopark project budget, has been moved from the ‘other Olympic Park Venues’ grouping and reported as a separate item. Showing project budgets separately, once they are not commercially sensitive, is part of our commitment to transparent reporting of costs relating to the Olympic Programme.

The remainder of this reduction is the result of savings achieved on the programme through a combination of procurement, VAT and inflation savings.

To ask the Minister for the Olympics for what reasons Stratford City Land and Infrastructure and Stratford City Receipt are show as separate entries in her May 2009 London 2012 Quarterly Economic Report. (279839)

Prior to the publication of the London 2012 Quarterly Economic Report, the budgets for the Olympic Village and IBC/MPC had been reported as a single aggregate figure. However, with the reduction in commercial sensitivities following the award of contract for the IBC/MPC, coupled with the resolution of funding issues for the Olympic Village, this figure has now been broken down to reflect the budget for each individual project.

Where possible—as with the separate entries for Stratford City Land and Infrastructure and Stratford City Receipts—budget breakdowns will be provided, wherever commercial sensitivities allow, as part of our commitment to open and transparent reporting.