The Australian government should pump as much money into sport as possible to help a speedy Olympic recovery, swimming great Ian Thorpe says.

Thorpe says Australia's swimming performances are his biggest disappointment of the London Games.

"The disappointment is in the results," Thorpe told the BBC.

"It's not that I'm disappointed with the (swim) team - I am proud of our team and I am proud of what they did, the way that they handled it, their reactions to it.

"And I think especially in Australian swimming, our team actually is more than just one competition, we have a history in this team and we will come back from this result.

"We will be working out exactly how to do it."

Thorpe said serious conversations were needed about Australia's middling performances in London.

"The important conversation that needs to take place in Australia now, and what needs to happen after the Games here in the UK, is basically what role will government play in sport," he said.

"I see government's role in sport as looking at putting as much money as possible into sport and across a number of sports, and look at it as being one of the greatest preventative measures of decreasing a future health bill."

NZ Newswire