The Mayor oversees a total budget of £17 billion. Two London Assembly Budget Committees consider if this money is put to good use: the main Budget and Performance Committee, which is supported by a specialist Budget Monitoring Sub-Committee.
These two Committees scrutinise budget and performance in a wide variety of areas across GLA and its functional bodies including Transport for London, the Metropolitan Police, the London Fire and Emergency Planning Authority, the London Legacy Development Corporation, and the Old Oak and Park Royal Development Corporation.
The Budget Monitoring Sub-Committee recently looked into the borrowing strategy of the GLA Group, including those of Transport for London and the London Fire Brigade. New borrowings by the Greater London Authority (GLA) Group will reach nearly 1 billion in 2017-18. It will have borrowed over £4 billion more by 2020-21. The webcast of the meeting is available to view here and the transcript here.