The level of borrowing within the Greater London Authority (GLA) Group was £14.7 billion [1] at March 2018 and is expected to increase to more than £21 billion by March 2023.
This is partially due to the fact that it will take on an additional £1.3 billion loan because of the Crossrail delay.
Tomorrow, the London Assembly Budget Monitoring Sub-Committeewill examine the borrowing of the GLA group. It will discuss:
- the case for borrowing
- what borrowing has achieved
- how affordable the current level of borrowing is
- what the plans for the future are
- if there is any scope for additional borrowing
The guests are:
- Simon Kilonback, Chief Finance Officer, TfL
- Emanuela Cernoia-Russo, Director of Corporate Finance, TfL
- Sarah Bradley, Group Financial Controller, TfL
- Luke Webster, Chief Investment Officer, GLA
- Martin Wheatcroft, Managing Director, Pendan Financial Strategy
The meeting will take place on Wednesday, 12 June from 2.00pm in Committee Room 5 at City Hall (The Queen’s Walk, London SE1).
Media and members of the public are invited to attend
The meeting can also be viewed LIVE via webcast or 
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Notes to editors
- Excluding lease creditors
- Gareth Bacon AM, Chairman of the Budget & Performance Committee is available for interview. See contact details below.
- Full meeting agenda
- The Budget Monitoring Sub-Committee supports the work of the the main Budget and Performance Committee to 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.
- As well as investigating issues that matter to Londoners, the London Assembly acts as a check and a balance on the Mayor.
For media enquiries, please contact Alison Bell on 020 7983 4228. For out of hours media enquiries, call 020 7983 4000 and ask for the London Assembly duty press officer. Non-media enquiries should be directed to the Public Liaison Unit on 020 7983 4100.