| | | Base Cost | VAT | Gross cost |
| Project | Detailed Project | £m | £m | £m |
|
Site Preparation and Infrastructure
|
Powerlines
|
240
|
42
|
282
|
| |
Utilities
|
217
|
38
|
255
|
| |
Enabling works
|
310
|
54
|
364
|
| |
Structures, Bridges, Highways
|
706
|
124
|
830
|
| |
Contribution to Prescott Lock upgrade
|
5
|
0
|
5
|
| |
Other infrastructure (Greenway, Landscaping
|
175
|
31
|
206
|
| |
Total Site Preparation and Infrastructure
|
1,653
|
289
|
1,942
|
|
Venues
|
Stadium
|
422
|
74
|
496
|
| |
Other Olympic Park Venues
|
488
|
86
|
574
|
| |
Non Olympic Park Venues
|
86
|
15
|
101
|
| |
Total Venues
|
996
|
175
|
1,171
|
|
Transport
|
Stratford Regional station
|
114
|
5
|
119
|
| |
Contribution to DLR upgrade
|
86
|
0
|
86
|
| |
Thorntons Field relocation
|
40
|
7
|
47
|
| |
Contribution to North London Line upgrade
|
110
|
0
|
110
|
| |
Other transport capital projects
|
161
|
17
|
178
|
10 Dec 2007 : Column 13WS
10 Dec 2007 : Column 14WS
| |
Other transport operating expenditure
|
328
|
29
|
357
|
| |
Total Transport Projects
|
839
|
58
|
897
|
|
Other Parkwide Projects
|
Logistics for site construction
|
287
|
50
|
337
|
| |
Section 106 and master planning
|
108
|
19
|
127
|
| |
Insurance
|
42
|
8
|
50
|
| |
Security for park construction
|
301
|
53
|
354
|
| |
Total Other Parkwide Projects
|
738
|
130
|
868
|
|
IBC/MPC, Olympic Village, Programme Delivery and Taxation
|
IBC/MPC, Olympic Village
|
491
|
1
|
492
|
| |
Programme Delivery
|
580
|
67
|
647
|
| |
Corporation Tax and Net Interest
|
0
|
73
|
73
|
|
TOTAL
| |
5,297
|
793
|
6,090
|
|
REMAINING CONTINGENCY
| | | |
2,009
|
|
MAXIMUM FUNDING AVAILABLE FOR ODA
| | |
8,099
|
The amounts shown above are net of contributions receivable totalling £5 8 9m, which includes amounts related to enabling works, utilities and village.
Projects which are not disaggregated such as Other Olympic Park Venues are still subject to contract and accordingly are commercially sensitive at this stage.
Programme delivery includes a provision for performance related payments to CLM, the ODA Delivery Partner.
Contingency as announced on 15 March 2007 totalled £2,247m. This is included as two separate amounts, £2,009m as included above and £238m identified as
Security Contingency within the Non-ODA Budget. The Security Contingency of £238m was announced to Parliament on 17 October 2007 (Hansard 17 October 2007 Column 1133W).
While a cost to the games, all tax paid by the ODA will be a future receipt to the Exchequer and accordingly no net additional cost to the public sector.
|
Table 3: The Detailed Breakdown of Contingency Released.
| | Released ContingencyIincluded in Cost |
|
Site preparation and Infrastructure
|
177
|
|
Venues
|
100
|
|
Transport
|
21
|
|
Other Parkwide projects
|
208
|
|
IBC/MPC, Olympic Village, Programme Delivery and Taxation
|
(6)
|
| |
500
|
Work and Pensions
Self-Invested Personal Pensions
The Minister for Pensions Reform (Mr. Mike O'Brien):
Consultation begins today on draft regulations which will allow protected rights to be held in Self-Invested Personal Pensions (SIPPs). A copy of the consultation document and draft regulations have been placed in the Libraries of both Houses of Parliament.
The consultation is the result of the very useful dialogue we have had with the pensions community about the existing restrictions preventing SIPPs from holding protected rights. In light of recent changes bringing SIPPs under the regulatory control of the FSA, the Government consider that these restrictions are no longer necessary.
The consultation runs until 29 February 2008.
