Is the government right to cut funding for school sports?

Sports stars were furious last night as Education Secretary Michael Gove slashed funding for sports in schools by £162million.
Spurs and England defender Ledley King, 30, said: "Sport in schools is important for kids' development, health and social interaction.
"Being a father myself it would upset me if my kids didn't have access to sport in school.

In this age of austerity it may, very sadly, be truly necessary to cut funding for physical education in schools. To somehow use the upcoming 2012 Olympics as a reason to do this is, in my opinion, unforgivably cynical. We, as a nation, are in the middle of an obesity crisis, where only 5% of the population is active enough. This doesn't strike me as the optimal time to remove PE from the curriculum.