The meeting at Downing Street came as the International Olympic Committee (IOC) began their last Coordination Commission to inspect preparations for London 2012 this morning in a three-day visit that will conclude on Friday.

Sir Philip was part of a high-profile delegation that met with Cameron alongside IOC President Jacques Rogge, London 2012 chairman Sebastian Coe, Sport and Olympics Minister Hugh Robertson, Culture Secretary Jeremy Hunt and London 2012 Coordination Commission chairman Denis Oswald.

"It was a pleasure to meet the Prime Minister to discuss the final preparations for the London 2012 Paralympic Games," said Sir Philip, who is also an IOC member and a London 2012 Board member.

"There was a real sense of excitement and anticipation in the air.

"The British Government has always been extremely supportive of the Paralympic Games and it was pleasing to hear Mr Cameron talk about how the Games are helping to improve accessibility in the capital and the importance of Paralympians in helping to deliver London 2012's legacy, especially in terms of inclusion."

The Prime Minister predicted that both the London 2012 Olympics and Paralympics will be a major success.

"The Olympics and Paralympics will be the greatest show on earth," he said.

"It's an extraordinary honour for the UK and we intend to repay that faith.

"I believe the message is clear: London will be ready, on time and on budget."

Ahead of the final London 2012 Coordination Commission meeting, the IPC was updated by London 2012 on plans for the Paralympic Games Closing Ceremony, scheduled for September 9.

IPC chief executive Xavier Gonzalez, who also attended the meeting at Downing Street, revealed that plans for the Closing Ceremony look spectacular.

"What London 2012 has planned for the Closing Ceremony is extremely impressive," said Gonzalez.

"I must congratulate all the team involved as what they are creating is nothing short of spectacular.

"The Closing Ceremony will certainly be memorable and definitely an event not to be missed."

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