Britain's Olympic team will still target fourth place in the London 2012 medals table following a last-minute injection of £29million from public funds but some sports will still face cuts.

The move by the Government reduced the funding shortfall for elite Olympic athletes from £79million to £50million in the run-up to the 2012 Games.

Funding body UK Sport say the money means no potential medals in London will be jeopardised, that all sports will get some money - but those with no medal prospects in 2012 will still face significant cuts.

UK Sport's ambition is still for all sports, including the likes of handball and volleyball, to be represented in 2012, but whether they do have teams competing in London is a decision for governing bodies to take once they have discovered their exact level of funding on Wednesday.

Athletics is also likely to face a cut from its Beijing level after it failed to reach its medal target in the summer.

Culture secretary Andy Burnham, who announced the £29million to UK Sport's board on Tuesday, insisted no sport would be "cut adrift" despite the remaining £50million funding gap which arose after the Government's plan of attracting £100million private sector investment failed to bring in any money at all.

Burnham told BBC Radio Five Live: "We are saying no sport will be cut adrift. (For) some of the sports in more of a developmental stage we are going to identify a way forward so they can really use London to act as a springboard for more success."

The Government say the new money means £40million more will be spent overall up to London than was done in the run-up to Beijing, where the British team finished fourth in the medals table.

But shadow Olympics minister Hugh Robertson insisted the Government should have honoured the original commitment.

Robertson said: "Whilst any extra funding is clearly good news, this still falls £50million short of what the Government unconditionally promised sport that it would get two years ago."