Sadiq Khan: Cancelling Garden Bridge would now cost taxpayer twice as much as building it

Sadiq Khan at his first ever Mayor's Question Time at City Hall
Pippa Crerar25 May 2016

Sadiq Khan attempted to win over critics of the Garden Bridge today by claiming it would cost taxpayers twice as much to cancel the horticultural oasis as to complete it.

As he faced his first Mayor’s Question time, Mr Khan revealed that scrapping the Thames crossing would waste almost £40 million of public money already spent.

It comes after the new Mayor finally lifted a shadow over the £175 million project by giving it his backing - having raised questions about its future during the election campaign.

In return, he demanded more accessibility.

But there remain strong critics of the footbridge across the Thames on the London Assembly, including in the Labour Party, in particular over the procurement process and whether the project was an appropriate use of public cash.

Mr Khan laid bare the finances of the landscaped crossing created by Olympic cauldron designer Thomas Heatherwick during Question Time.

Transport for London and the Government have previously committed £30 million each to the Garden Bridge, with the remainder raised through private donations.

Of the £30 million pledged by TfL, £20 million is in the form of a loan to be repaid in full.

Mr Khan revealed that of the £60 million total of taxpayers’ money, £37.7 million had already been spent. If the project was scrapped now, this would be lost in full with no benefit at all for Londoners or taxpayers.

The Mayor said if the Garden Bridge is completed, the loan would be repaid, and the Trust behind it would also pay £22 million in VAT to the Treasury.

The final cost to the public purse would then be just £18 million – less than half the cost of cancelling.

Mr Khan said: “From the point at which I became Mayor, it was quite clearly in London taxpayers’ financial interest to complete the Garden Bridge project.

“It would simply cost Londoners more to cancel the project now, than it would to finish building the Garden Bridge.

“So I will support the building of the Garden Bridge, but I am demanding that the project is made more accessible and open to all Londoners in return.”

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