Barclays Penalties and Cycle Hire 2

Meeting: 
MQT on 2013-05-22
Session date: 
May 22, 2013
Reference: 
2013/1406
Question By: 
John Biggs
Organisation: 
Labour Group
Asked Of: 
The Mayor
Category: 

Question

Barclays are withholding sponsorship payments for underperformance of the cycle hire scheme. Given that the contract, including its performance measures, is confidential there is no way of knowing what this underperformance of targets, or indeed the performance target itself, is. How did you, as Mayor, allow such an opaque and unaccountable position to emerge? Will you now, finally, overrule both your officials and Barclays and publish the contract?

Answer

Answer for Barclays Penalties and Cycle Hire 2

Answer for Barclays Penalties and Cycle Hire 2

Answered By: 
The Mayor

Officers are drafting a response which will be sent shortly.

Written response from the Mayor received 7 August 2013

As explained in my answer to MQ 1402/2013, the performance measures relate to the number of annual trips made, the scheme launch dates and various other scheme service level indicators. The sponsorship of the Cycle Hire scheme by Barclays continues to provide value for Londoners and is transforming the way that people make short trips around the city. The payments not released by Barclays are more than offset by the penalties TfL has imposed on Serco.