Extarct from today's Sunday Telegraph 29/04/2007 'Cover-up' of Â£1bn hole in Britain's Olympic bid By Andrew Alderson, Chief Reporter, Sunday Telegraph The Government has been accused of covering up a Â£1 billion "black hole" in the finances for the London Olympic Games when Britain submitted its bid. George Osborne accused Government and Mr Brown of 'trying to cover their tracks'. Ministerial aides were told by accountants - two months before the bid's submission and 10 months before the capital knew it had been chosen to host the Games - that the estimated bill for the Olympics of Â£3.4 billion was significantly short of the mark. The consultants warned aides in September 2004 that the bill was going to be Â£1 billion more then expected, taking it to at least Â£4.4 billion. In the event, even that figure proved hopelessly overoptimistic, with the revised bill mushrooming by March this year to Â£9.35 billion - nearly four times the original Â£2.4 billion estimate. As a French officer said to me when the IOC announced its decision on 6 July 2005, only a Frenchman would wish the Olympics on London.