It looks Butlins Redcoats.
I note that many of the uniforms this year have a holiday camp look about them, blazers and white trousers/skirts. London Olympics is going to have a rather Hi-de-Hi! feel about it.
Edited by MikeDT - 7/15/12 at 11:26pm
The Team GB outfit for the opening ceremony hasn't been released yet so the picture is fake. The rumour is that the jackets are gold - no presumptions there then. Also they're made by Next which basically means they'll be really bad fabric and poor fitting.
The athletes have to queue up at 4am outside a next store in the Trafford center to pick them up - a la Next sales.