The London 2012 Olympic and Paralympic Games is on track and within budget, according to a report out today.
Data from the Government and Olympic Delivery Authority (ODA) has confirmed that it has managed to cut its budget by £27m in line with the new Government’s targets.
ODA chief executive David Higgins said: “With a little over two years to go until the Games we are in good shape – on schedule and within budget.
“We have hit all our milestones for 2010 and announced the next set which will take us to next summer when the main venues and infrastructure needed for the Games will be complete.
“As we have done since the very start of the project we have made savings through driving greater efficiency on a range of projects.
“We have made a total of £700m savings in this way, most recently absorbing both the agreed £27m reduction in the ODA’s budget and the impact of the Emergency Budget.
“We will continue to bear down on costs wherever possible whilst ensuring we deliver what is required for both a fantastic Games in 2012 and a lasting legacy afterwards. ”
The overall public sector funding package for the Games now stands at £9.298bn.”
