2012 stadium cost rises by £216m

Artists impression of the 2012 Olympic Stadium

The Olympic stadium for the 2012 Games will cost £216m more to build than originally predicted, the Olympic Delivery Authority (ODA) has said.
While bidding for the Games the projected cost was £280m but since then the figure has risen by more than 77%, the new ODA chairman John Armitt said.

He said "inflation, VAT, legacy conversions and earthworks" had resulted in the escalation in expenses.

The budget for the Games was increased to £9.3bn by the government in March.