Tories push for Olympic safeguards
The Conservatives have accused Ken Livingstone of showing a “disturbing lack of leadership” by failing to back their call for safeguards to the cost of the Olympics.
The London mayor refuses to lobby government to implement safeguards to protect Londoners from covering extra costs, on the basis that funding arrangements are already resolved.
Ministers currently estimate the London 2012 Olympics will cost £2.37 billion, funded by £1.5 billion from an Olympic lottery game, £250 million from the London Development Agency and £625 million from a council tax increase, to come into effect next April.
But London Conservatives fear that the cost is likely to increase and warn current rules would have Londoners picking up the bill.
“Given that the Athens Games has run three times over budget we could be left with a debt-mountain. That is not acceptable,” said Olympics spokeswoman Angie Bray.
