Comment: containing the Olympic costs

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

The cost of the London Olympics has increased, is increasing - but may at last start to be diminished. As we report today, the Olympics Delivery Authority, the ODA, has decided not to build one venue for fencing and to scale down or move three others, for mountain cycling, handball and basketball, in an effort to contain capital costs. The initiative will, it is hoped, avoid the creation of white elephants - sites more grandiose than the Olympics events actually require and which will need a great deal of money to maintain. For instance, the capacity of the handball arena has been halved, to make it easier to use after 2012, the BMX track will be moved next to the velodrome and the fencing arena is to be relocated to the ExCel centre near the Royal Docks. These changes will be approved by the governing authorities of the sports.

They demonstrate that, at last, the ODAis trying to engage seriously with the problem of ever-rising costs - though, naturally, it is explaining the changes in terms of improving the "spectator experience" rather than budget. The cost of the velodrome and the aquatics centre, for instance, had already more than doubled from the original estimates and projected income from the sale of Olympics sites to developers after the event has been drastically scaled down as a result of the fall in property prices. With four years still to go, the ODA is left with only £252 million of the £1.07 billion budget designated for venues in the Olympics Park.

These modifications to the plans make sense - morally as well as financially. The Games were sold to the people of London on the basis of a relatively modest core budget of £2.4 billion from the taxpayer - with a further £1 billion of public funds for the Olympics park - which has ballooned in an extraordinarily short period to £9.3 billion. Londoners and taxpayers are entitled to expect that the Olympics executives make it their priority to stay within that budget. These amendments to the plans for the Olympics Park are a good start.