Taxpayers may need to bail out Sadiq Khan’s London housing fund, say auditors
GLAP missed repayment deadlines for £300m loan and concerns raised over poor managementTaxpayers may be forced to bail out Sadiq Khan’s London housing fund, after it repeatedly missed repayment deadlines for a £300m loan and its auditors raised concerns over poor management.The London mayor’s property development vehicle, known as Greater London Authority Land and Property Limited (GLAP), inherited the £300m debt when it was formed under Boris Johnson in 2012, after a merger of other public development bodies. Continue reading...
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GLAP missed repayment deadlines for £300m loan and concerns raised over poor management
Taxpayers may be forced to bail out Sadiq Khan’s London housing fund, after it repeatedly missed repayment deadlines for a £300m loan and its auditors raised concerns over poor management.
The London mayor’s property development vehicle, known as Greater London Authority Land and Property Limited (GLAP), inherited the £300m debt when it was formed under Boris Johnson in 2012, after a merger of other public development bodies. Continue reading...
