UK Sport, the government agency that provides funding for the British Olympic and Paralympic programme, will have to cut 25 per cent of staff jobs and 50 per cent of its directors by July.

In a statement to National Governing Bodies on Wednesday afternoon, the chief executive Sally Munday cited “unprecedented financial pressures”.

UK Sport has about 150 staff, providing funding of close to £340 million, which is sourced from the National Lottery, for Olympic and Paralympic sport.

But Munday said the high-performance agency was facing some huge challenges, with staff put on notice that some tough decisions are coming.

In an email to the governing bodies, she wrote: “We do not believe we can make a credible case to your government on your behalf