2012 Olympics Budget Battle Heats Up

LONDON (CelebrityAccess MediaWire) — The Olympics scheduled for London in 2012 are creating tensions between the two main parties in the UK. Tessa Jowwell, the culture secretary has agreed to meet with conservative party honcho David Cameron to try to smooth over the contention that's arisen in recent weeks over the spiraling cost of the budget for the games.

Members of the Conservative party are alleging that the finances are being poorly handled in light of the seemingly massive cost over-runs for the Olympic park. Originally billed at £1Bn the projected price has topped more than £3bn with further increases anticipated with the Sunday Times projecting a final cost of as high as £5.1bn.

Jowell's agreement to meet Cameron comes as the result of a committee set up by the Conservative party to provide some oversight for the project. Headed up by Sir John Ritblat, the former Chairman and Chief Executive of British Land, the group will carry out detailed scrutiny of the project as it progresses.

Ms Jowell has maintained that the issue is being primarily driven by political infighting and that a memorandum of understanding between the Government and the city of London allowed for the funding of overruns. – CelebrityAccess Staff Writers

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