Search

Olympic Stadium could cost taxpayers more cash, London Assembly warns

15:03 10 December 2012

Transforming the Olympic Stadium must not cost taxpayers more money—especially now West Ham has been named the preferred bidders.

That’s the demand of a London Assembly report warning that the Legacy Development Corporation is exposed to financial risk that may increase pressure to provide extra public cash.

The Assembly’s Budget committee fears that ambitious legacy plans aimed at rejuvenating east London may be eclipsed by a short-term need to raise capital from high-value housing developments.

Budget chairman John Biggs, whose east London constituency includes the Olympic Park, said: “We need a guarantee from the Mayor that taxpayers will not be left to pick up the bill.

“The once-in-a-generation transformation of the Olympic Park is a huge opportunity for east London—but doesn’t come without financial risk.”

The committee’s Pre-Budget report also wants to know the implications if bus and train fares rise only by inflation rather than ‘above’ inflation as announced, and wants assurances that plans to reduce police costs are judged against changes to policing capacity. The Mayor is expected to publish his Budget early in January.

0 comments

Latest News Stories

Yesterday, 12:00
The Mayor of Newham, Sir Robin Wales (centre) with Cllrs Obaid Khan, left, and Unmesh Desai, and children from Community Links' after school club in Rokeby Street, Stratford.

The Mayor of Newham has pledged his support to the Newham Recorder and Community Links Christmas Toy Appeal, handing over a donation to some of the youngsters supported by the charity.

Robin
Fri, 16:09
Planned engineering work could affect your journey this weekend.

There is a relatively minor programme of planned closures on the Tube and Overground network this weekend - but they could still affect your journey. Read on for the lowdown.

Fri, 15:39
Egita Galvona has set up a sewing class workshop in Stratford

A clothes-making mum has set up her own sewing workshop to give others the freedom to create their own threads.

Newham College
Fri, 12:00
The Scrabble Champions tournament is taking place at the ExCel

For many people, Scrabble is a game that only gets played with the family when you’re full of roast turkey and trimmings.

London

Most read news

Protesters have been warned they are banned from setting up camp at the landmark.

John Cantlie features in the new IS video, in which he talks about a recent failed military attack.

From Britain First’s Facebook posts, you would assume they’d won the Rochester by-election. They didn’t, but they’re claiming it anyway.

At 100 years old, this was Ruby Holt’s first visit to the beach – and the first time she saw the ocean.

Digital Edition

Image
Read the Newham Recorder e-edition today E-edition