Government announces Olympic cash to be cut

PUBLISHED: 18:55 24 May 2010 | UPDATED: 16:04 05 October 2010

Chancellor George Osborne has announced drastic cuts in the Olympic budget. The announcement made earlier today will see £27m slashed

Chancellor George Osborne has announced drastic cuts in the Olympic budget.

The announcement made earlier today will see £27m slashed from the Olympic budget of £9.3 billion.

Olympic Delivery Authority (ODA) chairman, John Armitt, said he was sure the savings could be made without affecting the programme.

He said: "Due to strong financial management and cost control to date the project is on a sound economic footing and I am confident that the ODA will be able to save £27m from our budget this year."

Mr Osborne announced a raft of measures today, designed to save £6.2 billion across all sectors, including transport, health and education.

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