Statement from Sebastian Coe on Olympics Minister's Games Budget statement

"It is a great leveller, educator and motivator. Nothing demonstrates the inspirational power of sport better than hosting the Olympic Games and Paralympic Games. They will be the most positive, extraordinary opportunity we have to change the face of sport and the landscape of East London.

"The Games are a catalyst for thousands of new homes and jobs. They will transform the East End of London. They will continue to bring huge transport improvements to the whole city. They will deliver massive investment in Stratford and they will create fantastic sports facilities for the whole of the UK.

"We must make the most of this opportunity for the benefit of future generations. We welcome today’s announcement by The Olympics Minister, Tessa Jowell, which explains the investment that is being made in preparing for the Games and the investment that is being made in the regeneration of the area. It is important that these two budgets are clearly defined and understood as together they will contribute to a new, redeveloped long term legacy for London’s East End."

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