London Olympics organisers have cut £27m from their £9.3bn budget as part of savings demanded by government.
The savings have been made in media facilities, site construction security and the at the velodrome and basketball venues.
The final cost of erecting facilities is expected to be £7.3bn, a drop of £51m in the past three months. That has more than offset a £45m cost increase as a result of last month’s Budget, which resulted in increases in value added tax, national insurance and other taxes.
20/07/10 Financial Times 4
