VANCOUVER: A report released today confirms the Vancouver 2010 Integrated Security Unit has known for years that the $175 million security cost estimate for the 2010 Olympics in Vancouver was unrealistic and will be much higher.

"This latest cost increase is just one more example of the consequence of the blank cheque approach taken by the Campbell government on Olympic spending," said Maureen Bader, BC Director of the Canadian Taxpayers Federation. "The complete lack of fiscal discipline brought about by a lack of accountability and little transparency will saddle taxpayers with more debt. If a private sector CEO hid the true costs of a project, he'd be turfed."

The $175 million figure touted by Vancouver 2010 represents funding from the federal and provincial governments.

"Given the federal government's past refusal to increase its funding level to support the Olympics in Vancouver, we can expect the full burden of the cost increase to be borne by the BC taxpayer," said Bader.

Documents released by the CBC today showed that the Vancouver 2010 Integrated Security Unit clearly understood, in 2005, that the actual security cost would significantly exceed $175 million. Comments from the RCMP today indicate that the costs are higher for a variety of reasons, but in particular, because of the increase in venues from the original 21 to more than 100.

"The Campbell government must ensure that Olympic security costs are transparent," continued Bader. "The RCMP may demand secrecy on operations for security reasons, but taxpayers deserve transparency and accountability on costs."