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.