LDA Board 2

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


In Written Answer 2902/2009, you failed to answer the following question, stating that I had 'misinterpreted' the debate:

At the 16 September meeting of the LDA Board, Edmund Lazarus stated that 'we have had various representatives from the Mayor's Office addressing meetings and they have put forward diametrically opposite views of the Mayor's priorities'. Do you agree with this assertion and, if not, please state on grounds you disagree with it.

Mr. Lazarus clearly stated that your representatives had provided 'diametrically opposite' views of your priorities, presumably leading to confusion among board members. With this in mind, please answer the above question directly.


Answer for LDA Board 2

Answer for LDA Board 2

Answered By: 
The Mayor

Mr Lazarus was clearly highlighting the fact that my advisors are passionate about their own areas of responsibility and may well consider their own portfolios to be the most important and most worthy of LDA funding. However, the LDA has a robust method of evaluating returns on investments, and LDA Board members are empowered to make independent investment decisions based on facts presented to them. Whilst I note that advisors views on the importance of a project may well differ, the facts that it needs to fit with LDA investment principles, and is subject to robust scrutiny, will ensure that the right decisions are made.