Glasgow's Commonwealth Games receives £81m cash boost

The budget for the Glasgow 2014 Commonwealth Games will be increased to £81m, it has emerged today.

Glasgow 2014 Ltd, the organising committee for the Games, said today that funding for the event would rise to £454m.

The Scottish government will foot much of the extra money needed, providing an additional £39m and a £20m reserve fund, although first minister Alex Salmond warned the budget increase would be “challenging for the public purse”.

Glasgow City Council will also contribute an extra £9m and the organising committee for the Games will raise an additional £13m.

The review was verified by financial advisers PricewaterhouseCoopers.

Lord Smith, chairman of the organising committee, said: “Everyone in the organising committee recognises the responsibilities upon us to deliver an efficient and effective Games, minimising the cost to the public purse in these difficult economic times.”

Salmond said: “The Scottish government is committed to showcasing the best that Scotland has to offer by delivering an outstanding Commonwealth Games. This necessary budgetary increase is challenging for the public purse but the funding boost is good news for 2014 and will ensure an exciting, efficient and effective event.”