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|Coe Defends Olympics as Legacy for London|
- Regeneration investment helps explain cost over-run
LORD COE has gone on the offensive as criticism mounts over the rising cost of the 2012 Olympics.
The Olympics boss has pointed to the importance of the aftermath of the games, which he sees as the revamp of parts of the East-End, one of London’s most deprived areas.
"You have to look at the regeneration," Coe said. "We want to leave a legacy and discussions are on-going."
Coe’s point is that although the cost estimates may have risen from UKP2.4 billion to somewhere between UKP5 and UKP10 billion, most of that suspected increase has either not been decided on, or is, in any case, is not for the Olympics itself, but for long term investment in the area around Stratford.
Today, Olympics Minister Tessa Jowell faces questions at the House of Commons on the costs and over accusations by her Tory shadow of "monumental government incompetence."
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