London 2012 Escapes With Modest Cuts

As we mentioned last night, the Olympic Delivery Authority has got away with only modest cuts following George Osborne's plans to slash the budget deficit by £6bn. Modest in Olympic terms is of course a mind boggling 27 million pounds but when you're juggling £9.3bn, it's small fry (apparently). On the upside, ArcelorMittal, the steel giant coughing up for most of Anish Kapoor's controversial Orbit has been announced as an official tier 2 sponsor of the Games and it's thought that ticket sales for punters wanting to scale the 'Leaning Tower of Umbilical Cord' (yet to be trademarked) will be a welcome moneyspinner for the London Olympics.