Questions raised over 2010 Olympics budgeting

[MrPrax]

Questions raised over 2010 Olympics budgeting

VANCOUVER, British Columbia, Sept 14 (Reuters) - Hosting the 2010 Winter Olympics in Vancouver will cost taxpayers at least C$2.5 billion ($2.2 billion), far more than government officials claim, according to an auditor's report on Thursday.

British Columbia officials have long argued the Games will costs taxpayers C$600 million, but the province's auditor general said that ignores projects such as the C$600 million upgrade to the highway from Vancouver to the resort community of Whistler where most ski events will be held.

"Given the province has the ultimate responsibility for the financial outcome of the Games, we feel there should be a regular and complete reporting of the Games' cost to taxpayers," Arn van Iersel wrote.

The report also warned the 2010 Games may fall short of producing the projected C$4 billion in economic benefits, because International Olympic Committee rules prevent them from starting international marketing efforts until after the 2008 Olympics in Beijing.

Guardian

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2010 Games costs almost double the estimates

VANCOUVER -- British Columbia taxpayers are already on the hook for more than double what their provincial government estimated for the 2010 Winter Olympics and the B.C. auditor general says things could get worse.

Auditor General Arn van Iersel's report indicates British Columbia has little wiggle room to meet it's targets for the Games and that there are several risks that could blow the budget.

Van Iersel released his report Thursday concluding the Games will cost the B.C. and federal governments $2.5 billion. Most of that -- $1.5 billion -- will be covered by British Columbia.

"Inherent risks in the budget remain -- risks that could result in additional cost pressures to the province,'' he writes.

But the B.C. government argues it's on track to contain costs to $600 million, as promised.

CTV

S U C K E R S

...The rubes fall for it everytime...

[CHIMO]

1. Ah Hem

The premier appears pregnant.

[IntravenousDemilo]

2. Oops... n/m

[Canuck55]

3. Whether the Games were a good decision aside...

...too many people died each year on the Sea to Sky, an upgrade was needed. Whistler is our prime tourist destination, tourism is one of our top industries, it made sense. It would have been done over a longer term in different phases without the Games, but it had to be done.