Banking Services

This Assembly notes that the GLA group procures a variety of banking services, from card processing and foreign exchange to bonds and securities services. In the four years from 2008-12 the GLA group paid almost £35m in charges and other costs for these services, representing a significant combined procurement budget.

This Assembly calls on the Mayor of London, the GLA Head of Paid Service, the Mayor’s Office for Policing and Crime, the Fire and Emergency Planning Authority and the Board of Transport for London to explore opportunities to move taxpayers’ money to banks with a better track record in lending to small businesses and with a track record that is a better fit with the group’s Responsible Procurement policy.