An official report claiming that London 2012 was worth £9.9 billion to UK trade is a “marketing exercise”, Vince Cable has admitted.
The Business Secretary said the figures may not survive “a rigorous academic approach” but added they were "the best we can do".
When grilled on the report on the BBC Radio Four Today programme, Cable said it was "essentially a marketing exercise, using methods approved by the National Audit Office, which is a very tough test."
He added: "It is the best we can do – it is not necessarily something that would pass muster in the best academic journals but a test of credibility has been applied to it."
The Government's £9.9 billion figure includes investments such as £1 billion for "regeneration in the centre of Croydon", 16 miles away from the Olympic Park.
More top news
Declan Donnelly will host the show alone when the show returns on March 31 following his partner Ant McPartlin's return to rehab, ITV says.
Police say they are reviewing 'malicious comments' on social media following the news of the death of two-year-old Kiara Moore.
In light of the Facebook data sharing scandal, ITV News asks what information apps hold and how to stop them sharing your details.