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Tokyo 2020 slashes budget to $17 bn

Toshiro Muto has capped the Tokyo 2020 Olympic budget at 1.8 trln yenTokyo Olympics organisers unveiled a smaller budget of up to $17 billion on Wednesday after coming under pressure to cut ballooning costs. The figure, down from last month’s pledge to cap spending at $17.78 billion, follows warnings that the bill for the 2020 Games could soar as high as $30 billion. Organising committee chief executive Toshiro Muto said the entire Games budget would be between 1.6 trillion and 1.8 trillion yen, which he put at $15-16.8 billion.

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