Government announces Olympic cash to be cut

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.