Ha – why is it I am not surprised to read in today’s Evening Standard that a “major cash crisis” has hit Lend Lease, the firm building the Olympic village? The Australian construction outfit can’t find its £450m share of the costs – which means that at least £200m of public money will have to be found "immediately” to enable the building work to continue at the Stratford site. Let’s put that another way. This all means that the taxpayer – ie me and you – will have to subsidise this wretched extravaganza.

The Olympic village will house 17,000 athletes and officials and later be converted to 3,500 homes for rent or sale after the Games.  It appears that it was originally thought that Lend Lease would make a profit by selling the athletes' village buildings after 2012. But now we have a credit crunch, no one wants to come up with any money in case crashing property prices mean they won’t get their money back.

And the National Audit Office has announced that the public-private partnership deal for the village has fallen apart.

I have no intention of being stung for this white elephant which Tony Blair was so keen to promote. What a relief to know that, very soon, I will not be one of the poor tax payers being thoroughly milked for this ridiculous waste of money aka the 2012 London Olympics.