Mayor Boris Johnson today takes the reins of the Olympic Board and intends to ram home his message of tight financial management of the 2012 Olympic and Paralympic Games.

Chairing the meeting, Johnson will come face to face with those he accused in the week of "failing" to have a coherent 'legacy' plan. He called previous commitments "unrealistic."

Beijing cuts

Olympics Minister Tessa Jowell, who headed former mayor Ken Livingstone's election campaign, British Olympic Association Chairman Colin Moynihan and London 2012 Organising Committee Chair Sebastian Coe will hear of cuts to planned Beijing operations.

The number of City Hall delegates flying out to Beijing for the Olympic Games will be reduced as will spending on accommodation, Johnson also plans to fly economy.

He estimates saving around £1.2 million from Livingstone's original plans for London House, a venue in Beijing intended to promote London during the Games and scrapping plans to fly out eighteen Gordon Ramsay chefs, who would have provided catering for visitors and guests.

Earlier in the year he scrapped Ken's plan to send a bus to China by road, it still cost the taxpayer almost £500,000.

The Mayor said:

"I want to ensure every aspect is kept under tight financial control. There were some pretty unrealistic things planned, which would have cost a lot of taxpayer money, but which would have had marginal value to Londoners."

The original 2012 budget of £3.4 billion has nearly tripled to £9.3 billion.