Published: Oct 21, 2010 5:36 AM EDT
Updated: Oct 20, 2010 1:46 PM EDT

LONDON (AP) - The British government has decided to keep the London 2012 Olympics budget unchanged despite wide-ranging budget cuts to reduce the country's deficit.

The Olympic budget is protected at $14.7 billion despite a 28 percent cut in funding to UK Sport, the country's primary sports agency.

UK Sport chief executive Liz Nicholl says "this settlement represents a positive outcome in difficult times." The government announced Wednesday that it is cutting its departments' budgets by an average of 19 percent.