"Our meetings were very productive and effective," said Denis Oswald, the chairman of the 2012 IOC Coordination Commission, who led the visit.

 

"Regarding finance, we are very happy with LOCOG’s budget which was broken down clearly for us, and is balanced and unchanged at around the £2 billion mark.

 

"We also have an understanding of the processes in place by which the government will finalise its budget.

 

"In the numerous functional areas LOCOG presented to us it was clear that there has been thorough work and progress since the IOC’s last visit.

 

"We look forward to returning with the full Coordination Commission in June.”

 

Other topics discussed between the IOC and LOCOG chairman Sebastian Coe and chief executive Paul Deighton covered sport, transport, finance, environment and sustainable development, commercial, communications and media operations, Olympic village, venue construction, venue management and Games operations, accommodation, culture, ceremonies and education, legal, human resources and programme management.