How to do government maths

London 2012 Olympic Games comes in at £377m under budget, government announces

That\’s excellent then!

the original budget of £2.3billion at the time of the 2005

So it cost under £2 billion. Hurrah!

In its final budget report of the Games, the Government now forecasts the overall cost at £8.921billion,

Yup, in government accounting coming in at four times your budget is coming in under your budget.

Hang the lying fuckers.

10 thoughts on “How to do government maths”

  1. At some time in the future, when the present crew of political/bureaucratic liars have gone (because there would be no point even trying while they are around to lie and muddy the waters), a true accounting of what was spent and what the Olympics actually cost (including lost earnings to Londoners etc) needs doing.

    U

  2. At some time in the future, when the present crew of political/bureaucratic liars have gone (because there would be no point even trying while they are around to lie and muddy the waters), a true accounting of what was spent and what the Olympics actually cost (including lost earnings to Londoners etc) needs doing.

    Until then believe nothing of what the state tells you.

    U

  3. @JohnB ‘I love the implication here that government project budgeting is in any sense different from corporate project budgeting.’

    The government only has money it extracts from us by threat of imprisonment, you fucking tool.

  4. john b, presumably, can cite cases where a corporate project budget was exceeded by a factor of 4 without anyone suffering adverse consequences?

  5. john b, presumably, can cite cases where a corporate project budget was exceeded by a factor of 4 without anyone suffering adverse consequences?

    Even on Sakhalin II we only went 3 times over. And that was after considerable scope amendments.

  6. We still don’t know what the Sydney Olympics cost.

    All the politicians involved are now gone, but the civil servants who were involved were relatively junior at the time, and are now only just reaching relatively senior points in their careers, so the chances of finding out now are getting less rather than more, I think.

  7. The London Olympics cost £20 billion, most of it taxpayers’ money.

    It’s as good a number as any.

  8. “Even on Sakhalin II we only went 3 times over.”

    Moreover, you probably did not have the nerve to characterise that as coming in “under budget”.

  9. >The London Olympics cost £20 billion,
    >most of it taxpayers’ money.

    >It’s as good a number as any.

    Yes, but my hunch is the number is a good deal bigger than that, actually. The history tends to be that the actual amounts are ever greater than the claims of the worst pessimists. However, I am just speculating.

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