The government has admitted that it did not include project management costs
totalling £400m in its budget for the 2012
Culture secretary Tessa Jowell admitted that CLM, a private sector
consortium, had been awarded a £100m contract to manage construction of the
Olympic venues but also included an added cost of £400m in the budget.
When asked why a contract to keep costs down had helped send the project over
budget, Jowell said that the extra spend was to make sure the job was ‘done
properly’, reported the FT.
The £400m is part of the £900m increase from the original £2.4bn budget for
building the Olympic Park
A VAT bill in the hundreds of millions of pounds will
be included in the budget after it had not been originally accounted for.
Reports suggest the new budget could top £5bn.
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy
A senior MP has questioned the impact of HMRC’s decision to undertake yet another radical overhaul of its internal structure
The Apple Tax situation; Accountants replaced by robots; and The Accountancy Age Top 50+50; all discussed by head of editorial Kevin Reed