LONDON, Aug. 22 (UPI) -- The 2012 London Olympics could cost the British taxpayer $8.8 billion in the next 15 years while the GDP gain may only be $3.42 billion in the same period.
The cost projections are contained in a confidential report sent to the government, the Financial Times reported Monday.
The government is challenging the figures, saying they underestimate the benefits from tourism. However, the Times said the findings are expected to prompt ministers to tighten their hold on costs.
Government officials did not disclose the identity of the consultants who prepared the figures.
"We recognize that we don't possess all the relevant expertise within government. We have to face up to the fact that this is a project of incredible size and complexity and there's real expertise in the private sector to ensure we deliver the Games on time and on budget," one official said.
