Olympic stadium cost jumps another £29m

The estimated construction cost of the 2012 Olympic stadium is now £525m, according to a report by Boris Johnson's Olympic watchdog.

The report by business tycoon David Ross found that the cost of building the 80,000 stadium had risen a further £29m since November.

However, Ross said that savings elsewhere on the project meant that costs had increased by £16m overall.

The stadium was originally priced at £280m in London's bid document back in 2005.

The Olympic Delivery Authority said that costs "remain within the budget set out by the Government".