The London 2012 Olympics will cost Britain £11bn
The original bid for the London 2012 Olympics said the budget would be about £2.4 billion ($4.5bn). Now they've admitted they forgot to include VAT (sales tax) and a few other things, such as higher security risk and a much higher price of steel, the culture sectary admited it may cost £3.3 billion ($6.3bn).
I looked into this. It's still waaaay off. The 2004 Olympics in Athens eventually cost £9.35 billion ($18bn). There is no way that London can be cheaper than that. London is one of the most expensive cities in the world and if Athens had to spend that sum, then London will easily beat it.
So on that basis, and after the cock-up of the Wembley stadium in west London, I am going to set a realistic budget for the games so that in 2013 when they're looking back, they can see how right I was.
My estimated budget for the London 2012 Olympic games: £11 billion ($20bn)
