Garden Bridge

Meeting: 
MQT on 2016-10-19
Session date: 
October 19, 2016
Reference: 
2016/3560
Question By: 
Caroline Pidgeon
Organisation: 
Liberal Democrats
Asked Of: 
The Mayor
Category: 

Question

Further to your answer to Question 2016/2944 where you reiterate your commitment that no more of Londoner's taxes that you control will go into the Garden Bridge, what specific assurances are you seeking from the Garden Bridge Trust to convince you that your commitment can be met while still offering a GLA financial guarantee for the maintenance and upkeep of the bridge?   Will you expect the Garden Bridge Trust to provide an endowment fund to ensure that the yearly maintenance and upkeep costs can be met on a long term and sustainable basis,  and if so what would you estimate is the minimum amount that such a fund should reach need to convince you that your commitment that no more of Londoner's taxes will be allocated to the Garden Bridge can actually be met?

Answer

Answer for Garden Bridge

Answer for Garden Bridge

Answered By: 
The Mayor

I am committed to ensuring that no more of Londoners' taxes that I control will go to the Garden Bridge.

I will not allow any guarantees to be entered into for the maintenance and operation of the bridge unless I am convinced that this will not lead to further public expenditure down the line.

It is up to the Garden Bridge Trust to demonstrate this in its business plan and any related documents.

I have not set out specific requirements for how to do that, but the Garden Bridge Trust has already made clear its intention to develop an endowment fund, which would be one way of demonstrating it.