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Olympic security costs rise to £533 million

The security cost surrounding the Olympics 2012 has risen from the originally predicted £282 million, to £553 million.

This may mean the total budget for the staging of the Games exceeds the original £9.3 billion set out, according to the chair of the Public Accounts Committee, Margaret Hodge.

The rise has been attributed to double the number of security guards being needed than was originally thought; an oversight of those who compiled the initial financial estimates for the Games. Taxpayers may have to put in a little extra to foot the bill, though as security is crucial to the Games' success, they may be happier than expected to pitch in.

Guardian.co.uk has confirmed some 23,700 security personnel will be on site throughout the Games; helping to keep the peace and generally protecting those involved. One of the events that will need the most security is the Olympic Torch relay, which will see the torch wave through the UK accompanied by Met police officers specifically trained for the event.

Despite the government potentially going over budget, the event - which was described by Phillip Hammond as a "once-in-a-generation event" - is likely to bring in many millions of pounds for the UK, thanks to its attraction of tourists from around the world. This could potentially balance out any extra costs.

This might not be necessary though, as a spokesperson for the Department for Culture, Media and Sport (DCMS) said the government is "confident" it can come in under budget for the entire event, BBC News confirmed.

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