Olympics cost £11.7bn. Is it worth it?

Cordula Donhauser/DPA/Press Association Images

When London won the 2012 Olympics in 2005 we were jumping for joy. Finally we managed an Olympic win, and we had something to look forward to with a sense of national pride. At the time were were told it would cost £2.37 billion, but were assured we would reap the rewards in return, and it would be well worth the outlay.

In reality an investigation has revealed the final spend will be around 10 times this figure. So how has this happened, and how can it be worth it?