Organisers of the 2012 London Olympics have been accused by MPs of being willing "to spend money like water".

The Commons Culture, Media and Sport Committee report, published today, states that "it appears to be over-designed... and an expensive way of providing the facilities for water sports needed during and after the Games".


The original estimate has rocketed from £3.4 billion to £9.325 billion.

"The concept of the Aquatics Centre might be spectacular and eye-catching, but it appears to be over-designed and will be an expensive way of providing the facilities for water sports needed during and after the Games," the report said.

"In our opinion, the history of the Aquatic Centre shows a risible approach to cost control and that the Games organisers seem to be willing to spend money like water."

The committee also expressed concern that £1.8 billion they were depending on from the sale of land and property could be recouped due to the downfall in property prices.

(CD/JM)