Assembly to debate Mayor’s Draft budget

• The Mayor’s 2025-26 Draft Consolidated Budget includes an additional £241.5 million funding compared to the 2025-26 Consultation Budget and Budget Guidance.    

• The TfL 2025-26 Budget projects an increase in fares income of £324 million. This includes an average increase in TfL fares of 3.6 per cent.    

• MOPAC/Met Police Service’s 2025-26 Budget requires £181 million in Cross Business Group Savings to be found to be affordable.  

• The Mayor’s capital expenditure plans on housing for 2025-26 includes £1,069 million on the 2021-26 Affordable Housing Programme.   

Tomorrow, London Assembly Members will consider and debate the Mayor’s Draft Consolidated budget for 2025-26 and any amendments, as part of the statutory budget process. 

The guests are:

• Sir Sadiq Khan, Mayor of London
• David Bellamy, Mayor’s Chief of Staff
• Fay Hammond, Chief Finance Officer, Greater London Authority

After questioning the Mayor, the Assembly will consider the Mayor’s Draft Consolidated Budget and whether to approve it, with or without amendment. Amendments are subject to securing the support of a simple majority of the Assembly Members present and voting.

This is the first of a two-stage budget-setting process. The Assembly is due to make a final decision on the budget at the Mayor’s Question Time meeting on Tuesday 25 February.

The meeting will take place on Thursday 23 January 2025 from 10am in the Chamber at City Hall, Kamal Chunchie Way, E16 1ZE.

Media and members of the public are invited to attend.

The meeting can also be viewed LIVE or later via webcast or YouTube.

Follow us @LondonAssembly.