An advisor to the Mayor told the press:“Boris will be looking for high-priced help, such as a top City accountant or investment banker, to determine what really needs money spent on and what doesn’t.
“[The expert] will be looking at Government spending, not just the City Hall contribution. All the indications are that Boris is going to be much tougher about the budget than his predecessor was.”
Johnson has vowed not to increase the £625million contribution from London council tax-payers. London City Hall's total bill for the Olympics is £1.825 billion, including £900million from the London Development Agency and an extra £300 million agreed last year in a revised budget.
The Mayor has already appointed former editor of the Sunday Telegraph, Patience Wheatcroft, to examine the LDA’s accounts, but his new financial expert will focus solely on Olympic finances. MP for Vauxhall Kate Hoey has been appointed as the Mayor’s Commissioner for Sport. Hoey has previously criticized the 2012 project, but will be restricted in her new role to advising on how to use the Games to boost sport in the capital.
Inspectors from the International Olympic Committee visit London next week. It is believed that the IOC is happy with the progress being made and is prepared to largely ignore the budget controversy.
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