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Higgins inadequately rewarded for awesome budget savings!

Today Mr Higgins kindly sent me an email message in which he said:

'We remain within budget and on track to complete the vast majority of the venues and infrastructure with one year to go.'

Kind regards,

David Higgins

Chief Executive, Olympic Delivery Authority

I thought there were two years to go but as he's the CEO I am sure he knows what he is doing. The 2011 London Olympics doesn't sound quite right! At least the Brits should stand a good chance of a substantial haul of medals, even gold ones, if no-one else turns up. I note he says they expect to have 'the vast majority of the venues and infrastructure' ready. That's not quite what I was expecting. I thought they all had to be done but once again who am I to question El Supremo?

The Cabinet Office recently revealed that Mr Higgins is Britain's highest paid quango chief, on £384,000 last year.

But that was fine for Olympics Minister Hugh Robertson, who said Mr Higgins's pay was "entirely defensible” because his management had saved £600 million and enabled the ODA to remain within budget. “His bonus as a proportion of the savings achieved is tiny,” he added.

The lie about the budget has now, through endless repetition and official endorsement, become the truth.

According to his admirers Higgins has even managed to reduce the budget so a few hundred thou is just a snip! Actually I think they have miscalculated. On this basis they should be dishing out even more dosh to this miracle worker. It's not a saving of £600million, it's almost £7billion.

To be able to reduce a budget from £2.4billion to over £9.3billion is a truly remarkable feat. The OBR should recruit him when Prof Budd moves on. By my calculation that's a saving, by their method of reckoning, of about 7billion. Taking it that a saving of £600million is worth £384,000 then this truly remarkable saving of £7billion should be worth around £4,340,000. What's £4.3mill when all's said and done? You've got to pay for talent and this kind of talent only comes along once in a blue moon. Well actually it's recently been on display quite frequently in the City.

I think we should be told why David isn't getting everything he deserves.


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