Here we go again. Vancouver Olympic costs are skyrocketing. Not a week from the start of the Winter Games in Italy, our 2010 version is coming out with cost expectations and it isn’t looking good.
In 2002, the bid was expected to cost $470 Million. Due to a booming Vancouver and global growth, the cost of materials and skilled labour have pushed that cost up to $580 Million. Calgary in 1988 was a profitable Olympics, but it took Montreal 30 years to pay off the debt from the 1976 summer games.
I am all for sport, but when costs go up 23% over the approved budget, bells should be going off for an audit or investigation on the costs.
Officially Screwed Taxpayers……again.