The country's new Culture, Media and Sport Minister, under whose remit the Olympic budget falls, said his department was being forced to make £66 million of savings.
“Olympic money is not protected, said Jeremy Hunt. “None of the Department for Culture Media and Sport's budgets are protected.”
The old Labour government's Olympics minister Tessa Jowell warned against cutting spending on the Olympics, saying cuts now could end up making the event cost more in future.
“The Tories should be very careful about destabilising the Olympic budget,” she said.
“The Olympic budget has a substantial contingency, which has enabled the project so far to be delivered on budget and on time.
“Reducing the available contingency could well lead to short term savings, but greater costs in the long term.'”
The UK's new prime minister David Cameron suggested yesterday that his government will not turn its nose up at the prospect of the country hosting major sports events by telephoning FIFA president Sepp Blatter and declaring his support for the England bid to host the 2018 World Cup.
