London addresses security

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London 2012 organisers have released £19m from contingency funds to make Olympic venues more secure from terrorist attacks.

The allocation of the money has not affected the Games' overall budget and anticipated final cost of £7. 234bn, the UK government said. The latest London 2012 quarterly economic report, released ahead of events to mark three years to the opening ceremony of the Games, stated that preparations for the Olympics remain on time and on budget. The only new release of cash from the £2bn contingency fund has been the £19m for security "to allow modifications to the Olympic Park venues to make them more secure and resilient to attacks". Olympics minister Tessa Jowell said: "On the eve of our three years to go celebrations the Olympic project remains on time and on budget. The overall funding package for the Games remains the same and the anticipated final cost of the Olympic Delivery Authority (ODA) budget is the same as it was at the end of March 2009 – £7. 234bn. There are now over 4, 000 workers on site and the project continues to provide jobs and millions of pounds worth of business opportunities to companies around the UK in a challenging time. " So far £700m of the contingency fund has been issued but organisers hope £324m of that will be recouped after the Games by selling off the Olympic Village as apartments. About The Sport Briefing This story has been reproduced with the kind permission of The Sport Briefing. The Sport Briefing is published by PA Sport and can be found at: www. thesportbriefing. comThe Sport Briefing is updated as and when news happens, from across the global business of sport. The industry's biggest stories have an accompanying email alert, and The Sport Briefing sends subscribers a daily digest to give them an easy–to–read overview of the day's main events. Contact rory. squires@thesportbriefing. com for more information.

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