Announcement expected on athletes' village to assist developer Lend Lease with further funding
The government has declined to comment on reports it is in discussions over releasing further contingency funds to pay for construction of the Olympic village.
Quarterly 2012 budget figures are to be released by the Department for Culture, Media and Sport this afternoon, and ministers are thought to be preparing an announcement on funding for the £1bn athletes' village.
The government has already allocated £326m from the contingency pot to the village after developer Lend Lease failed to raise the necessary private investment. Any further raid on funds would have to be approved by a committee chaired by UK chancellor Alistair Darling.
In total, £1.2bn of the £2.7bn Olympic back-up fund has so far been allocated.