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Olympic Games 2012: Finance

Volume 503: debated on Monday 11 January 2010

To ask the Minister for the Olympics what her most recent estimate is of the cost to the public purse of hosting the London 2012 (a) Olympic and (b) Paralympic Games. (308479)

The public sector funding provision of £9.325 billion for the London 2012 Olympic and Paralympic games that I announced in March 2007 remains unchanged and includes a £66 million contribution towards hosting the Paralympic games. The Olympic and Paralympic games are being hosted by the London Organising Committee of the Olympic Games and Paralympic Games (LOCOG).

Detailed financial information is given in the Government Olympic Executive’s regular quarterly economic reports, including the anticipated final cost of the Olympic Delivery Authority’s programme, the most recent of which was published in November 2009.

The next financial update will be included in the London 2012 annual report which will be published in February 2010. These reports do not include LOCOG’s anticipated final costs as LOGOG is a private company funded almost entirely by private sources.