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Olympic Games 2012: Costs

Volume 691: debated on Friday 20 April 2007

asked Her Majesty's Government:

Further to the answer by Lord Davies of Oldham on 22 March, how they are able to provide precise estimates of construction costs for the various Olympic stadia without completed architects' designs and quantity surveyors' estimates; and when such designs and estimates will be available. [HL2959]

The funding for the 2012 Olympic Games and Paralympic Games announced on 15 March was based on a rigorous review of costs, which included analysis of the costs of individual venues based on detailed quantity surveyor's estimates drawn from design commitments and capacities stipulated in the candidature file. All initial estimates included contingency to allow for the impact of potential design changes.

In some cases, the procurement process has already commenced and it has been possible to corroborate those estimates. As a result, some venues have more detailed designs and cost estimates than those which will be procured later in the process.

Further design details will be made available as plans develop, although final cost estimates for each venue will not be published as this could prejudice current and future commercial negotiations.