House building (4)

Meeting: 
MQT on 2014-02-26
Session date: 
February 26, 2014
Reference: 
2014/1070
Question By: 
Tom Copley
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

Will the Mayor consider borrowing in order to fund the construction of new homes in London?

Answer

Answer for House building (4)

Answer for House building (4)

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 ongoing on the London Infrastructure Plan as a means of lobbying for both a relaxation in borrowing limits and a sustainable income stream to service debt.