Olympics bill to rise by £100m

Latest budgets for the 2012 Olympics are expected to show cost increases of almost £100m.

The Department of Culture Media and Sport is due to release its latest annual report on the Games today.

Projected costs of the main stadium, aquatics centre and the velodrome are believed to have soared since July last year.

According to the Daily Mail, the biggest increase has been to the Olympic Stadium which has shot up from £525m to £547m due to amendments to the roof. The bill for the aquatics centre is to increase by £5m to £251m, which is £37m more than estimated.

The budget for the velodrome has soared by £25m to £105m due to more complex foundations being laid and problems with contamination.

Costs for venues outside the Olympic Park are also projected to rise by £24m.

However, Olympics minister Tessa Jowell will say today that the total project is on track to stay within its £9.3bn budget.

Anticipated savings of £114m in building work and materials are expected to offset the increases.