Cost of LSP 5 for 2013/14

Meeting: 
MQT on 2014-02-26
Session date: 
February 26, 2014
Reference: 
2014/0588
Question By: 
Stephen Knight
Organisation: 
Liberal Democrats
Asked Of: 
The Mayor

Question

Will you confirm that the additional £10.2m spend outlined in the Mayor's Final Draft Consolidation Budget 2014-15 on LFEPA brings the total of LSP 5 savings for the year 2014/15 down from £27.4m to £17.2m?

Answer

Answer for Cost of LSP 5 for 2013/14

Answer for Cost of LSP 5 for 2013/14

Answered By: 
The Mayor

An additional £7.1m will be passed to LFEPA to help finance the implementation costs of LSP5, but it does not reduce the budgeted savings required in 2014-15. The additional £3m to be passed to LFEPA in 2014-15 is to boost its reserves in order to help offset the budget pressures LFEPA is facing, particularly those arising from the costs of strike action.