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Olympics Going Over Budget By 100 Million

02.05.2009 - The cost of 2012 Olympics venues soars by 100million

The annual report for the 2012 Olympics will be released later today, and the news isn't bright. Since July last year, projected costs for several stadiums have rocketed, stretching the budget by over 100 million.

The Olympic stadium, which was originally estimated at 525 million, will now cost 547 million to complete. The aquatic center's bill is now 251 million, which is 37 million over budget.

The rising costs, however, don't worry Olympic minister Tessa Jowell, who predicts to offset those costs by saving 114 million in labor.

And how does Ms. Jowell plan on saving so much money? Sure, bringing in foreigners would cut labor costs significantly, but Gordon Brown promised these jobs to local people. "British jobs for British people," is how he put it. Brown wouldn't flat-out lie to his fellow Britons, would he? Of course he would.

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