MQT

Pre-Budget Report 2017

Date published: 
12 December 2017

Each year the Budget and Performance Committee publishes a Pre-Budget Report which sets out the key financial issues facing the Mayor as he prepares the budget for London.

In anticipation of the Mayor’s draft 2018-19 budget, the London Assembly Budget and Performance Committee's 2017 Pre-Budget Report highlights uncertainty around the funding of several organisations within the GLA group, and note that financial difficulties of the London Stadium and the uncertainty of Brexit are providing  additional stresses on the balance sheet.

 

Some of the recommendations

  • As a matter of urgency, the Mayor needs an action plan to address the Stadium’s financial pressures on the LLDC, with clearly defined targets as to when we can expect improvements.

  • The Mayor should conduct an urgent review of the performance of the GLA’s existing programmes to assess whether they are delivering the desired outcomes, and publish KPIs for 2018-19 alongside his final budget.

  • The Mayor should explain why capital funding has been cut for domestic retrofitting and energy projects, and what funding he has allocated to increase recycling in London.

  • The Met needs an action plan to get digital savings back on track and the Mayor should consider using his Chief Digital Officer to oversee and provide challenge to the action plan.

  • The Mayor should publish the detail of his proposals to fund half of Crossrail 2 during construction.

  • The Mayor should clarify how far his funding programmes will go towards meeting London’s housing need of 66,000 new homes a year, 65 per cent of which are affordable.

 

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