2012 Olympic Budget

Another link to Burning Our Money, this time a nicely crafted piece about yesterday's "Public Accounts Committee session on the shambolic 2012 Olympics budget". Do read the whole article and wonder if the BBC will ever cover this fiasco. One part that stuck out for me was that the original budget for the ODA's own programme management costs was £16m, the current estimate is £0.5bn; that's an increase of ridiculous proportions. Was the original cost of the Games at bid stage ever really thought to be £2.375bn?