The IOC’s watchdog body which is running the rule over the progress of London 2012 has dismissed recent criticism of the organising committee, stating it is ‘very happy’ with the progress so far.
The London 2012 organising committee has been under pressure in recent weeks after Culture Secretary Tessa Jowell reported to the House of Commons that construction costs for the Olympics had risen to £3.3bn.
However, IOC co-ordination commission chairman Denis Oswald told Olympics executives there would be no ‘knee-jerk reactions’ to claims of spiralling costs.
Oswald said: ‘London has made a lot of progress and the timelines of the project are going to schedule. I believe we will see an operational budget still in line with the bid.
‘I believe the increases mentioned have nothing to do with the Games and can be easily explained, but we will look into this more with our London colleagues in due course. A clear differentiation should be made between the various costs, so that it is clear which are truly Games-related costs and which are costs associated with other investments that are using the catalytic effect of the Games to make projects happen sooner and faster.’