Culture secretary lauds UK construction effort after Olympics project comes in under budget
Culture secretary Jeremy Hunt has lauded the achievement of the UK construction industry after news emerged that the cost of staging the 2012 Olympics is set to come in £476m under budget.
Hunt, the minister with cabinet-level responsibility for the games, said this amount remains of a £2bn contingency fund, which was part of the overall £9.3bn budget.
He told London’s Evening Standard: “It is a massive testament to the way the project has been managed. This project is turning heads all over the world.
“The British construction industry has not had the best of reputations. We’ve been known for cost overruns and delays and here we have one of the biggest construction projects in Europe on time and set at the 2007 budget with nearly half a billion still left in the pot.”