Olympic Park legacy
The reworking of the Olympic Park has begun and The London 2012 Organising Committee and the LLDC are marking the handover of the park. Meanwhile Ministers have revealed a £377m surplus in the government Olympic budget.
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Olympic Park handover marked
What will happen to surplus Olympic cash?
The London 2012 Games have come in more than £350 million under budget.
Government figures released show that is the saving from the overall budget of £9.3 billion.
But none of that money will be used for installing the retractable seats in the Olympic Stadium - said to be vital if it is to be a base for a football club, as well as athletics.
So, where does that money go and who will pay for the stadium's conversion?
Here's our Political Correspondent Simon Harris.
'Plans are in place to develop Olympic Park'
Construction News Editor Rebecca Evans feels confidant that today's announcement means that plans are in place to develop the Olympic Park.
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Government: 2012 surplus will help pay off deficit
Sports Minister Hugh Robertson has said that the surplus in the government's Olympic budget will be used to by the Treasury to pay of the country's deficit.
London 2012 to come in nearly £400m under budget
The London 2012 Games are set to come in under budget, figures from the Government’s final quarterly economic report show.
Read the full story£103m remains in Olympics contingency fund
by Simon HarrisAfter ministers revealed a £377m surplus in the government Olympic budget, it seems a further £103m remains in the contingency fund. Savings and unspent contingency amount to £480m. These figures suggest the final bill will be just under £9bn from a budget of £9.3bn.
It's not all positive - the cost of the Olympic village has risen by £36m to almost £750m. City Hall will get £30m from the sale of the village. The Government says London 2012 (Locog) will publish its accounts in the New Year.
Olympics end £377m under budget
The cost of the London 2012 Games has come in at £377 million under budget, according to Government figures released.
The overall cost of the Games is forecast at £8,921 billion from a budget of £9,298 billion.
With some contracts still to be wound up after the end of the Games, ministers are describing the underspend as a "prudent" estimate.
Sports minister Hugh Robertson described the feat of managing the complex programme within budget as "a tremendous success".
– Sports minister Hugh RobertsonThe work of the construction and delivery teams, from the ODA (Olympic Delivery Authority) and Locog (London Organising Committee of the Olympic and Paralympic Games), has set a very high standard and I have no doubt that London 2012 has set a new benchmark for the management of Olympic and Paralympic Games in future.
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Olympic Park handover marked
The reworking of the Olympic Park has begun and The London 2012 Organising Committee and the LLDC are marking the handover of the park.
Read the full story