Twickenham would have to guarantee a payment of £80 million to the International Rugby Board (IRB) if they were selected to host the tournament.

 

The RFU chief executive Francis Baron has admitted the current economic climate makes it difficult to justify that kind of financial outlay six years in advance.

 

He said: “We have to be entirely satisfied that it is the right thing to do and a sensible risk for the RFU to take.

 

“We have to make sure bidding is the right thing and in the best interests of England and the member clubs.

 

“We are not there yet.

 

"We hope to get into that position in the next few days.

 

“A number of countries have indicated they are struggling to make the numbers work.

 

"It is a difficult ask in the current economic climate for anybody to guarantee £80million for an event taking place in 2015.”

 

Australia recently withdrew their initial expression of interest due to the financial risk involved, while neither Scotland nor Ireland will proceed.

 

The deadline for the RFU to submit their bid is May 8, with a presentation to be made to the IRB in Dublin on May 13.

 

England’s potential rivals – South Africa, Japan and Italy – all have full financial backing from their respective Governments.

 

The RFU, who have received the public support of Prime Minister Gordon Brown, have been in talks over a funding package with the Department of Culture, Media and Sport.

 

Baron said: “All bidding unions are going to need their Government’s support to a greater or lesser extent. In my view no union can do it on their own.

 

“We have been working very closely with the government.

 

"The DCMS ]Department of Culture, Media and Sport] have done a great job in working through the legal, financial and other difficulties.

 

“We are seeking to pull together a package that works for the Government and works for us. It is not just the guarantee but other issues like security.”

 

Scotland withdrew from the tender process after failing to build support for a joint Home unions bid.

 

If England do bid there will be no formal co-hosting arrangements, although it is understood the RFU would look to hire Cardiff’s Millennium Stadium and possibly even the Liberty Stadium in Swansea.