The London 2012 Olympic Games have been hailed as a great advert for the UK construction sector after new figures revealed that delivery of the Olympics project will come in under budget.
In an interview on Radio 4's Today programme, sports minister Hugh Robertson revealed that the Games are set to come in around £476 million under their £9.3 billion budget.
The budget, which included a £2 billion contingency, was set in March 2007 and was almost four times the amount first estimated after London secured the Olympic Games in 2005.
The original budget had to be increased due to previously overlooked costs such as VAT and increased security charges.
Mr Robertson hailed the new figures as "a great advert for the British construction industry", while culture secretary Jeremy Hunt was similarly enthused.
He said: "Britain has proved that not only can we put on a great show for the world to watch like we did with the Jubilee but that we can also deliver big construction projects on time and on budget."
Author: Editor Gavin Pearson (email@example.com or 0207 202 0255)