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Increasing budget an investment for future of London, says Seb Coe


15:21, December 12, 2011

BEIJING, Dec. 12 (Xinhua) -- Hit with the mayhem global economic downturn, the London Olympics organizing committee faces significant budgetary challenges in the run-up to next year's Games, however its president Sebastian Coe believed the increasing budget will be an investment for the future of London.

"It's not just simply organizing Olympic Games, it also brings the infrastructural and transformational changes to London," said Coe during his trip to Beijing to attend the International Paralympic Committee (IPC) General Assembly on Dec. 11.

"Olympic and Paralympic Games last for 60 days. But this legacy of change will last for 60 years."

The British government last week doubled the venue security bill to 553 million pounds, and an extra 13,700 guards, including soldiers, will be needed on top of the 10,000 already planned, meanwhile the four ceremonies for the opening and closing of the Olympics and Paralympics also had their funding doubled, with 41 million pounds added to the 40 million already allocated.

Coe pointed out 75% of the-9.3 billion-pound London Games' budget was involved in the generation of London, which was an investment for the future of London.

"The organizing committee budget for ceremonies has not altered, that was remained constant," explained Coe, "When we show the opening ceremony to the prime minister and the mayor of London, they both decided it was something they want to invest. It was a way of showcasing the United Kingdom to four billion people."

Coe also emphasized London's particular assets - historic, cultural and sports-crazed - to create an Olympic experience that was different from the "extraordinary" Beijing Games.

"Each Games has its own priorities and passions and for us the London is all about delivering on our vision to stage spectacular Games for athletes," added Coe.

Coe's vision has been guided by the belief that the Games should function more as an inspirational starting point than a fabulous final chapter.

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