Revealed: Britain's $2 Billion Olympics Black Hole
Britain faces a £1 billion black hole after the 2012 Olympics because of "ludicrous" property price projections backed by ministers, it emerged last night.
Today the Conservatives and Liberal Democrats will, for the first time, vote against government plans to give the Olympics more money. Their move comes after a report for the London Development Agency (LDA) suggesting that the Government's estimates for the amount it will recoup in land sales after the Games are unrealistic. The shortfall will hit heritage, sports and arts projects already suffering from tight squeezes on their budgets.



Loading comments…
London Times | Jill Sherman | January 14, 2008 10:00 PM