UK Announces £35m Decrease in Olympic Budget

15 May 2011 (Last Updated May 15th, 2011 18:30)

Hugh Robertson, the UK Minister for Sport, has announced that that anticipated final cost (AFC) of the Olympic Delivery Authority (ODA) for the London Olympic Games in 2012 has decreased by £35m. The AFC of the Games' construction programme has decreased from £7.3bn in the previous qua

Hugh Robertson, the UK Minister for Sport, has announced that that anticipated final cost (AFC) of the Olympic Delivery Authority (ODA) for the London Olympic Games in 2012 has decreased by £35m.

The AFC of the Games’ construction programme has decreased from £7.3bn in the previous quarterly report to £7.26bn.

The ODA is confident that the budget cut can be made without affecting front-line services.

Work on the Olympic construction projects is now 83% complete, with the handball arena becoming the third Olympic venue to finish construction.

The ODA has achieved savings of £830m since the announcement of the baseline budget in 2007.