The case for the Garden Bridge is “weaker than in 2014” says the Treasury
A Treasury report has questioned the business case for London’s controversial Garden Bridge.
Officials told MPs that “the overall case for the project is weaker today than it was in 2014”.
In an analysis sent to Parliament’s Public Accounts Committee, Treasury permanent secretary Tom Scholar said there are “significant uncertainties” about some of the benefits the project would bring to the capital.
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The Treasury documents recognise the potential for increased tourism as a result of the construction, as well as reduced travel time for Londoners with a new way to cross the river, but described these as minor effects, with doubts around both the business and property benefits.
It concludes that a Transport for London business case presented in 2014 was “subject to an unusually high level of uncertainty”.
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Both the Treasury and TfL have committed £30m of funding towards the Garden Bridge, with London mayor Sadiq Khan yet to formally commit to acting as a guarantor for its running costs.
Earlier this week, the London Assembly passed a non-binding motion calling on Khan to rule out such an offer, first suggested by his predecessor Boris Johnson.