Tessa Jowell: Britain would not have bid for 2012 Olympics if we knew about recession - Telegraph Tessa Jowell, the minister for the Olympics, made the admission to leisure industry bosses at a dinner in London. The Budget for the 2012 Games has almost tripled but organisers are now under mounting pressure to cut costs... Well stop building then - tell the IOC that Sorry they will have to make do with whatever we already have or they can take them elsewhere. We have got plenty of Stadia and swimming pools already. If you go past house building sites you will see the gates are locked and the workers have been sent home, lets do the same for the Olympics.