Mayor's Regeneration Fund

Meeting: 
MQT on 2014-09-17
Session date: 
September 17, 2014
Reference: 
2014/3208
Question By: 
Navin Shah
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

Why has only an average of 16% of the Mayor's Regeneration Fund, the regeneration fund you set up in response to the 2011 riots, been spent?

Answer

Answer for Mayor's Regeneration Fund

Answer for Mayor's Regeneration Fund

Answered By: 
The Mayor

Boris Johnson (Mayor of London):  Yes, thank you, Navin.  The total that has so far been allocated or committed of the £67 million for the Regeneration Fund projects is actually £45 million, so the vast bulk of it has already been committed and that is going towards programmes in delivery.  Because we want to make sure that this money is properly spent and properly accounted for, we make payment of the grant in arrears. That is why the spending always lags behind, because the boroughs need to get on and do it, so that explains why the actual disbursement of funds is running much lower, but the allocation of funds is very high. 

Navin Shah AM:  Thank you for that explanation.  I am surprised that this information was not fed into our examination, which is already completed and the report was published last month.  That is where the original figure of 16% investment was reported in the Assembly’s report.  Mr Mayor, the report also indicates that there is a serious risk of slippage of this particular programme, which does not do well for stricken communities in those relevant boroughs.  Are you worried about that and what will you do to remedy the situation? 

Roger Evans AM (Chairman):  A swift response, please, because we are going to run out of time. 

Boris Johnson (Mayor of London):  I am obviously very keen to encourage speedy take-up of all the projects that we have seen, and fantastic things have happened both in Croydon and in Tottenham.  I have seen wonderful, wonderful things taking place there, but what we do not want to do is just squirt the money away without seeing results. Therefore I am much happier with the way round that it is going, though yes, obviously I would love to see greater speed. 

Navin Shah AM:  Mr Mayor, I will write to you for more information. 

Boris Johnson (Mayor of London):  Thank you, Navin.