GLA borrowing limits

Meeting: 
MQT on 2014-02-26
Session date: 
February 26, 2014
Reference: 
2014/0546
Question By: 
Stephen Knight
Organisation: 
Liberal Democrats
Asked Of: 
The Mayor

Question

What, if any, discussions have you had with government ministers about lifting the GLA's artificial borrowing limits with reference to financing more affordable housing?

Answer

Answer for GLA borrowing limits

Answer for GLA borrowing limits

Answered By: 
The Mayor

As explained before, to be able to borrow more requires not only the Government to relax the GLA's borrowing limits it also requires a sustainable revenue stream to service the debt. Following on from the London Finance Commission's report, discussions continue with the Government over the Growth Deal and work is concluding on the London Infrastructure Plan as a means of achieving both a relaxation in borrowing limits and a sustainable income stream to service debt.