Rachel Reeves to pledge £86m per year to Britain’s Olympic funding in Budget announcement

Britain’s Olympic and Paralympic funding from the Government is expected to increase by £9 million per year for Los Angeles 2028 in Chancellor Rachel Reeves’s Budget. After the delayed Tokyo Games in 2021, Boris Johnson announced a £77.4 million-a-year package – an increase of 44 per cent on post-Rio 2016 funding – although that pledge only covered three years. A Treasury source said: “This funding will be a clear commitment to investing in Britain’s sporting future – to realising the aspirations and potential of so many talented people across the UK and breaking down barriers to opportunity from the grass roots right through to elite competition.” The anticipated £86 million-per-year settlement for funding body UK Sport is expected to be guaranteed until 2028-29 – meaning the government is providing £344 million during the current cycle and into Brisbane 2032. Fears of elite coaches joining rivals The Government plans to make clear it “recognises the scale of Team GB’s achievements since climbing from 36th in the medal table at the 1996 Atlanta Olympics, with Britain the only nation outside of the US and China to win more than 60 medals at each of the last four Olympic Games”.