Sports minister hails 2012 progress 20/07/2010 |
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The Olympic Delivery Authority (ODA) has announced that it has successfully absorbed the £27m reduction in its budget demanded by the British Government as part of its wider cost-cutting measures.
Publishing its quarterly economic report on Monday (July 19), the ODA revealed that target had been achieved through a combination of efficiency savings and procurement gains. Of those savings, £13m came from construction site security, £11m from the international broadcast centre and main press centre, and £3m from smaller changes to the basketball arena and velodrome.
Minister for sport and the Olympics Hugh Robertson said: “As we approach two years to go until the Games, and with over two-thirds of the construction phase complete, we are in an excellent position.
“The ODA has done an excellent job thus far, delivering a complex project on time and within budget, despite the credit crunch. Today’s report shows they have delivered £27m of savings as part of the Government’s measures for reducing the deficit, while keeping the whole Olympic programme intact.”
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