Brown Says Expensive Olympics Will Boost London

English Prime Minister Gordon Brown is confident that the 2012 Summer Olympics will bring a big economic benefit to London. But with costs rising beyond expectations, some are skeptical of the PM's prediction.

He said the games would create not only temporary event-based jobs, but a long-term positive impact on the city's economy.

"Construction on the Olympic Park, which organisers call the largest building project in Europe, is on track to be completed ahead of schedule.

However increased venue costs have contributed to the overall Olympic budget spiralling from the initial estimate of 2.4 billion pounds ($3.9 billion) to 9.3 billion pounds.

The British taxpayer has had to step in after private funding partners for two of the biggest venues, the Olympic village and media centre, struggled to secure commercial financing in the credit crunch."

Full Story: Brown Says London 2012 to Fuel Regeneration

Comments

Comments

start pedantry/

There's no such job as Prime Minister of England, and/or Mr. Brown is certainly not English. /end pedantry

Prepare for the AICP Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $199
Planetizen Courses image ad

Planetizen Courses

Advance your career with subscription-based online courses tailored to the urban planning professional.
Starting at $14.95 a month

Stay thirsty, urbanists

These sturdy water bottles are eco-friendly and perfect for urbanists on the go.
$19.00
Book cover of Where Things Are from Near to Far

Where Things Are From Near to Far

This engaging children's book about planning illustrates that "every building has its place."
$19.95