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Olympic cost estimate

THE government was rightly lambasted last week by a parliamentary committee for its mismanagement of the 2012 London Olympic finances since winning the games in July 2005. But the Eye has discovered that even as the crowds were erupting in Trafalgar Square two summers ago, the government knew the real costs bore no relation to those set out earlier that day in Lord Coe's decisive presentation to the International Olympic Committee.

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We can still win the Olympics ... by hacking it back to size

For all the hype, there are no noticeable economic benefits to the Olympics. There may be some gain to smaller cities wanting to boost their world image, such as Atlanta and Barcelona. London has no such need and the IOC has priced small cities out of the market.

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Select Committee report on Olympic funding and delivery

House of Commons, Culture, Media and Sport Select Committee

London 2012 Olympic Games and Paralympic Games: funding and legacy

Second Report of Session 2006–07, published 24 1 07

Conclusions and recommendations

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