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The group responsible for acquiring development sites ahead of the London 2012 Olympics, the London Development Agency, are facing scrutiny following an investigation into the land acquisition scheme uncovered an overspend of almost £160 million. This figure is up from an original estimate of £86-£100 million.

Chief executive of the London Development Agency Sir Peter Rogers faced questions from a committee at the London assembly asking why the problem was not picked up earlier, with evidence suggesting information was available to spot the problem as far back as April 2008.

It appears that no lessons were learnt from the last time there was an accounting problem with the LDA, when accountancy firm Deloitte were called in about the funding of cultural grants.