Morning statement comes as report reveals a 20% chance that costs will rise above £9.3bn budget

Olympics Minister Tessa Jowell is to make a detailed statement on the 2012 Games budget at approximately 11am today.

The statement comes as a government study says there is a 20% chance costs will rise above the current £9.3bn budget.

Jowell will release a written statement to the Houses of Parliament later this morning which will reportedly detail logistics, contingency and construction costs.

The study, seen by the BBC, was carried out by a team led by Chancellor of the Exchequer Alistair Darling.

Although it says the budgetary figure of £9.3bn is “robust”, the study says there is a one in five chance of the budget rising again before the Games.

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