The London Assembly has raised concerns about what it calls "uncertainties in the Mayor's budget proposals".
.
Unsurprisingly, its biggest concern is the lack of a settlement between government and the London Development Agency over the transfer of the Olympic Park land to the Olympic Park Legacy Company.
The Assembly writes of the last-minute postponement of a settlement two weeks ago: "In advance of the conclusion of negotiations between the Mayor and government, it is unclear what the impact on the LDA's budget plans will be - for example, in the event that the LDA receives less than the £500m it hoped for, or if the profile of payments from government defers more funding to future years than has been assumed.
"A requirement for the LDA to cover more of the costs of the purchase of Olympic Park land (beyond the £9m contingency fund for 2010/11) would require further borrowing, the costs of which could result in reductions to the LDA's non-Olympic budgets.
"Further delays to a settlement would result in continuing uncertainty around the LDA's finances."
Such questions are of course going to be asked more and more while negotiations continue.
Leave a comment
What a user pic? Get a Gravatar!