London Olympics projected to be $600M under budget

British government projects London Olympics to be $600M under budget, leaving $770M unspent

Associated Press

LONDON (AP) -- The British government says the London Olympics cost about $600 million (400 million pounds) less than expected.

The final financial report for the games projects that the cost will be $14.285 billion from an original budget of $14.878 billion.

Savings came from a drop in security, transport and construction costs for the Olympics and Paralympics.

As a result of those savings and the unused part of the contingency budget, $770 million is left unspent.

The government says this will cover "risks" linked to the revamping of the Olympic Park.

Olympics minister Hugh Robertson says, "it is a significant achievement to deliver this large and complex program on time and under budget."

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