Ooh that'll set you back billions!

The costs for the 80,000-seater stadium in Stratford was originally billed at £280m when the budget was set in 2004, but costs have escalated to £469m.

If London's 2012 Olympic village isn't ready on time not only will it mean a bad day for politicians and London's reputation, insurance companies will have to make a big payout. Twelve insurance companies are involved in underwriting the risks of London 2012.

Without construction insurance no-one would take on the risk of such a massive construction project. London 2012 would have to be run like a school sports day in Hyde Park with jumpers for goalposts.