Image: The Games will be delivered "under budget"

The London 2012 Olympic and Paralympic Games are to be delivered "on time and under budget", according to the last quarterly economic report from the government.

Figures have shown that the overall funding package for the event remains at nearly £9.3bn, with £476m of uncommitted contingency funds yet to be used.

The anticipated final cost of the Olympic Delivery Authority-led construction and transport programme - now 98 per cent complete - has decreased £16m from the previous quarter to £6.761bn.

Culture secretary Jeremy Hunt said: "With only 44 days to go before the Olympics, it is fantastic news that there is still £476m of contingency funds left.

"Britain has proved that not only can we put on a great show for the world to watch like the Jubilee, but that we can also deliver big construction projects on time and on budget."

Details: goc2012.culture.gov.uk

Image: LOCOG

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