The Government have doubled the budget for the London Olympic and Paralympic ceremonies taking it from £40 million to £80 million.
With the Olympic Games getting closer reviews have been made by David Cameron who has agreed that the ceremonies can have extra budget to showcase the Games to a global audience of billions.
It is understood Cameron wanted the ceremonies to have more creative elements that will impress everybody watching and that will promote Britain in a positive way which is why the extra spending has been agreed.
The London Organising Committee of the Olympic and Paralympic Games makes its money from ticket sales sponsorship and merchandising, meaning some of the extra spending for the ceremonies will come from taxpayers, with the rest coming from the £9.3bn Olympic funding package.
Olympic minister Hugh Robertson commented on the increased budget saying: “We had a look at what was available and realised that this was a terrific opportunity and we had to make the most of it.
“We decided to go in at the higher figure for the benefit of the country; it is about seizing this great ceremonial and economic moment to the benefit of the economy and the public and tourism in the long run.”
Along with the opening and closing ceremonies security costs have increased, landscaping of the Olympic Park and steelwork to finish the aquatics centre have all been given extra budget.
It has also been revealed that security at the Games has risen from £271 million to £553 million after the number of security staff was revised.
The department of Culture, Media and Sport have now estimated that more security staff will be required next summer than what was originally planned.
Originally security was estimated at 10,000 staff then increased to 15,000 and now the new figure is 23,700.
The budget that has been increased for the Olympics is to benefit the country and economy with the money being made back by tourism and marketing of the games.
Other changes in the budget that have also happened are costs going down for cooling systems in the Media Centre, the athlete’s village and some construction to the Olympic Park.
With the budget being increased yet again the Olympics is proving a costly event which could potentially see the budget being increased further nearer to the Games.
We wrote an article a few weeks back detailing the new security costs - Costs increase to protect Olympic Game sites.
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By Amanda Bainbridge