City Hall is to receive almost £30m in additional Government funding in return for not increasing its share of the council tax. The Greater London Authority raises some of its money via a precept on the council tax which is collected on its behalf by local authorities. Mayor Boris Johnson has frozen this precept since […]
2012/13 Greater London Authority Budget
AMs to investigate impact of Olympic land debt
London taxpayers could be forced to pay off an additional £230m in Olympic debts. The debt relates to land transferred from the London Development Agency to the Olympic Park Legacy Company. The London Assembly is concerned that City Hall will be expected to repay the debt despite assurances that the Government would cover the entire […]
Borrowing Boris has maxed out City Hall’s credit card and we’re going to pay
Boris Johnson loves to paint himself as a financially responsible politician, freezing his share of the council tax while driving down costs to avoid the sort of financial “black hole” he accuses his predecessor of leaving behind. Coalition austerity measures have allowed Boris to come out against cuts to London’s budgets without the wider media […]
London Assembly: Boris faces ‘toughest ever’ budget
A new London Assembly report warns that Mayor Boris Johnson will face “his toughest financial decisions yet” when setting London’s 2012/13 budget. Next year’s budget will be the second since the Westminster coalition embarked on its austerity programme and slashed hundreds of millions from London’s annual financial settlement. City Hall has two main sources of […]
