Mayor to be grilled on final budget for 2025-26
The Mayor is responsible for overseeing a budget of over £20 billion, and published his final Draft Consolidated Budget for 2025-26 on Monday 17 February.1
Key changes from the original draft Consolidated Budget published last month include:
- Gross additional funding of £130m, however £26m of this has been allocated to cover the additional NI costs introduced by the Government on all employees across the Greater London Authority (GLA) Group in the Autumn 2024 Budget, which has not been covered by further funding.
- The additional funding is mainly from further Government funding for policing of £73m, business rates £39m, and council tax £14m.
- The policing funding includes a one-off grant of £50m in 2024-25 that will be carried forward to spend in 2025-26.
- The majority of the additional funding has been allocated to the Mayor’s Office for Policing and Crime (MOPAC) which receives £83m.
MOPAC has announced a projected net reduction of 1,479 officers by March 2026 and cuts to the Mounted branch, Dogs unit and closure of the Royal Parks Operational Command Unit. However, further calculations will be made to reflect the additional £83m announced in the Mayor’s final Draft Consolidated Budget.2
Tomorrow, the London Assembly Budget and Performance Committee will meet to question the Mayor on his final draft budget.
Guests include:
- Sir Sadiq Khan, Mayor of London
- David Bellamy, Mayor’s Chief of Staff
- Fay Hammond, Chief Finance Officer, GLA
The meeting will take place on Thursday 20 February 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
- The Mayor's budget | London City Hall 18 February 2025
- MOPAC Budget 2025-26: update on Metropolitan Police Service 'tough choices' P6, 18 February 2025
- Read the agenda papers.
- Neil Garratt AM, Chairman of 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 information, please contact Tony Smyth in the Assembly Media Office on 07763 251727 or [email protected]. For out of hours media enquiries please call 020 7983 4000 and ask for the Assembly duty press officer.