How much 2: The costs have started rising already

I said that I would probably be posting several times on the spiralling costs of hosting the 2012 Olympics.

This could be a post that runs and runs.

As David Harrison writes in The Sunday Telegraph: “The bill for clearing businesses and residents from the London Olympics site has risen by £250million from the original official estimates – and the figure is expected to be even higher by the time the bulldozers arrive in July [2007].

“The cost of evicting hundreds of companies and residents has soared from £370million in a 2002 feasibility study to at least £620million – with dozens of businesses still to be compensated.

“The rise in relocation costs is in addition to the £900million bill increase announced in November by Tessa Jowell, the Secretary for Culture, Media and Sport, which included £400million for hiring a project management consortium.”

Why is it that nothing run by governments seems to run on time or to cost? This is our money that they are wasting. Ours - mine and yours. Who is accountable? No one. It is about time that governments were held to account like private companies and the minister in charge sacked if projects go over time and over budget.

How much?

This will, no doubt, be the first of many postings on the London 2012 Olympics.

Londoners face an increase in their council tax to pay for the Olympics. How much? Well, London mayor Ken Livingstone says the equivalent of a Walnut Whip a week - 38p.

Tessa Jowell, culture secretary, this week said that it cost billions more than originally assumed.

How much more? No one seems to know. Apparently, VAT was left off the first estimate to keep the costs down and make them seem more attractive.

Would you really trust this government with anything to do with public money?

The CSA has been a disaster under them. As with any government organisation, those who agree to abide by the system get taken to the cleaners and the feckless ones get away with not paying anything at all.

Wembley Stadium? When will it be finished? How much did you say it will cost?

The Millennium Dome cost millions and is still costing us money and it's been empty for the last six years.

The Scottish Parliament, we were confidently told, would cost £5million. Final cost? £50million.

The London Assembly - the white elephant of parliaments. Before it came into being, the Government estimated that a Band D council tax payer would pay an extra 3p a week. That's roughly £1.50 a year. My last precept for the London Assembly was north of £200 a year.

In 1851 we hosted the Great Exhibition. It took nine days for Prince Albert's idea to be accepted; seven weeks later the concrete foundations were laid and four months after that the building was open and ready. It was a tremendous success and turned a profit, the money going to open the Victoria and Albert, the Science and Natural History Museums.

Anyone want to gamble on such worthy causes resulting from 2012 - if it gets built on time, of course...