The British government did not touch the 2012 Olympics budget even if they have been making large cuts to reduce their country's deficit. The Olympic budget remains at $14.7 billion to ensure its success. They know that a lot of things, including the success and how it will affect tourism, is riding on the success of the Londom 2012 Olympics. And thus, continued support of sports and the athletes through 2010 is a priority.
On the other hand, organizers have scrapped some of their plans including the wrap around the stadium that was designed to shelter the spectators and the canvas for the images and that would save them $11 million. The UK Sports will get a 28% cut but has said it will maintain its funding to the Olympics athletes until after the London Games. UK is one in making sure that they will deliver a safe and sucessful Olympics in 2012 when all eyes of the world will be on them.