Despite promises of a £27M cut in the £12BN (including £2BN running costs) Olympics "budget", USA Today reports that costs for the London 2012 games have in fact risen:
"In its latest quarterly report on the Olympic budget, the government cites a $7.2 million (approx £4.5M) increase in the projected cost. The potential increase is forecast in transportation and infrastructure."
Budgetary control does not seem to be the Olympics organisers strongest point.
Olympic Medals won during the Beijing 2008 Olympics