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LOCOG in rough patch over London Olympics budget

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LOCOG in rough patch over London Olympics budget
According to a report recently released by the National Audit Office, the London Organizing Committee of Olympic Games (LOCOG) has been put in the spotlight for the rising costs of the London 2012 Olympic Games.
LOCOG has been the recipient of well deserved praise because of Paris where the committee was able to raise a significant amount of money. Not only was LOCOG able to do this, it was also able to do it with the utmost efficiency.
However, their has been some serious negative news that has been pointed out by the report. The report does mention in appreciative terms the work done on the venues as well as the infrastructure required for the Olympic Games. Both the venue for the Olympic
Games and the infrastructure that was required for the international sporting event were on time and on the budget as well.
Having said that, the report goes on to point out several areas that lie in the red zone and should get the warning bells ringing. For one, the Canary Wharf HQ of Locog is highlighted.
The first and foremost reason to make the stakeholders worry is the security budget. Previously, it was estimated that the total costs involved in the security at the Olympic Games would be £282 million. However, the costs now have been raised to £553 million,
which is almost double the initial amount.
The unprecedented increase in the costs that has been incurred in the security budget is mainly due to the increased amount of security guards that are now required for the event. Previously, it was stated that only 10,000 guards would do the trick but now
that number has reached a figure of 23,700.
Other than that, there are concerns over the traffic congestion that is expected to occur in the capital of England during the Games. London is already a very densely populated city and the start of the games will bring in an influx of fans that will cause
major logistic problems.

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