Time running out for Mayor Boris, warns budget committee
PUBLISHED: 18:43 12 January 2009 | UPDATED: 13:57 05 October 2010
THE economic downturn is now the biggest challenge facing Mayor of London Boris Johnson as he sets his first budget for the capital with just four weeks to go, the London Assembly warns today. There is still a lack of clarity about where some savings by the Mayor will come from, says the assembly's budget committee
THE economic crisis is now the biggest challenge facing Mayor of London Boris Johnson as he sets his first budget with just four weeks to go, the London Assembly warns.
All areas of City Hall’s budgeting are under pressure.
Transport for London is facing a huge shortfall in fares and is having to revise its 2009-10 budget which will hit bus and train services, says a report by the Assembly’s budget committee.
The economic crisis means police may also need cash to cope with more crime such as theft and burglary, the Met has told the committee.
Falling income from invested cash and plummeting property prices have had an impact on the budgets of both the police authority and London Fire & Emergency authority.
Labour’s John Biggs, who chairs the committee, said: “Many of our priorities have to be revisited because London has been hit by the shock engulfing the world economy.
“But transparency is essential when budget changes are made.”
There is still a lack of clarity about where some savings by the Mayor will come from, with less than a month to go before the budget is complete, the report warns.
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