As recently as the 2nd June! we warned you all that the 2012 Olympics would bankrupt London and would ultimately end up costing you the tax payer more and more money, in fact we say the final bill will not be less than £15 Billion.
Even we were surprised that Cost pressures have already had an adverse affect on the main venues, with the budget rising 106 million pounds since November.
The price of the main stadium has already increased by 29 million pounds to 525 million pounds.
This has been mainly offset by savings elsewhere, but one billion pounds of contingency funding will be spent, according to the new mayor of London’s report.
Ross also highlighted concerns about security, saying the public could be put in danger unless plans are speeded up.
"It is absolutely vital that significant progress is made quickly on security planning so that necessary facilities are identified early enough to be provided cost effectively," it said.
"Failure to catch up and complete this work satisfactorily will have serious implications for Londoners as they will be the people most exposed to disruption and security risks."
But the report praised the progress made on the site's preparation, which is two months ahead of schedule. Johnson called for a Legacy Board of Advisers which will ask questions about value "now and not in four years' time".
So we warn you all once again, this Olympics is going bankrupt London, and the politico’s will expect you the tax payer to make up the deficit,
the pre crunch warnings are starting and its only a matter of time before the first big sponsor pulls out and that money will come from your pocket! Keep and eye on the Smugboard and watch our predictions come true.
What Olympics? we hear you ask, "the one's you couldn’t get into because all the tickets had gone to those on the gravy train and the tout's"!
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