The Greater London Authority (GLA) Act requires the Mayor to consult the London Assembly on his initial budget plans for the next financial year, before going to public and stakeholder consultation.
- Inflation, the cost-of-living crisis and particularly the increase in energy prices are likely key themes that will be considered throughout the Mayor’s 2023-24 budget process.
- Since the current Mayor’s first budget in 2017-18, his revenue expenditure has grown by over 600 per cent – from £274 million for 2017-18 to £1.8 billion for 2022-23 [1].
- The Mayor has an extra £104 million to spend compared to last year’s budget.
- Housing affordability is one of the most pressing issues facing Londoners and the Mayor’s primary intervention is the investment of £4.8 billion in Government funding to build 116,000 affordable homes.
- This year sees the start of a second £4 billion Government funded programme to build a further 35,000 affordable homes by 2029.
The Mayor oversees a total budget of £19 billion and is responsible for setting the budget for the GLA and its functional bodies.
Tomorrow, the London Assembly Budget and Performance Committee will meet to begin the process of scrutinising the Mayor’s budget plans for the next financial year. The guests are:
- Mary Harpley, Chief Officer, GLA
- David Bellamy, Mayor’s Chief of Staff, GLA
- Richard Watts, Mayor’s Deputy Chief of Staff, GLA
- David Gallie, Executive Director of Resources, GLA
- Tim Steer, Executive Director for Housing, GLA
- Tunde Olayinka, Executive Director for Communities and Social Policy, GLA
- Phil Graham, Executive Director of Good Growth, GLA
- Niran Mothada, Executive Director of Strategy and Communications, GLA
The meeting will take place on Tuesday, 22 November 2022 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
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Notes to editors
- 2022-23 GLA Final Budget
- Full agenda papers.
- Peter Fortune AM, Chairman the Budget and Performance Committee, is available for interview.
- Find out more about the work of the Budget and Performance Committee.
- As well as investigating issues that matter to Londoners, the London Assembly acts as a check and a balance on the Mayor
For more details, please contact Emma Bowden in the Assembly Media Office on 07849 303 897. For out-of-hours media enquiries, call 020 7983 4000 and ask for the London Assembly duty press officer.