Olympic Land Acquisition

Meeting: 
MQT on 2009-11-18
Session date: 
November 18, 2009
Reference: 
2009/3433
Question By: 
Len Duvall OBE
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

In Written Answer 2892 / 2009 regarding the failure of the Patience Wheatcroft Panel to identify the £160m hole in the Olympic Land Acquisition budget, you stated that 'there were no triggers to the Board or Senior Management which would have suggested that the Olympic land budget should be a specific area of focus for the panel'. If there were no 'triggers to the board or senior management' under your administration, we must infer that there were no such 'triggers' under the previous administration. Do you agree with this view and, if so, why have you not sought to convey it to those who have deliberately attempted to ascribe culpability to the previous board.

Answer

Answer for Olympic Land Acquisition

Answer for Olympic Land Acquisition

Answered By: 
The Mayor

The original land commitments were entered into under the previous Board and the financial consequences were quantified and agreed at that time. Whilst there were indeed no initial triggers indicating a problem under my administration, the recommendations made in the Forensic Audit Panel report confirmed the need for improved financial controls, processes and systems.

The improvements in governance arrangements and other operational processes, made under the new LDA leadership, allowed these historic systemic failures to be identified and decisive remedial action to be taken.