- Sensible savings have once again delivered an affordable budget for hard working Londoners.
The Mayor of London Boris Johnson’s sixth budget has today been approved unamended by the London Assembly. As well as reducing the portion of the council tax which goes to the Mayor, his budget will continue to provide significant investment in transport infrastructure, more affordable housing, drive jobs and apprenticeships.
The Mayor has achieved around £350 million of savings and efficiencies across the GLA group and has secured £1.25 billion of funding (over 2015-18) to deliver affordable homes in London. The budget also provides funding for an additional 2,600 police officers for frontline policing by 2016, the promotion of jobs and growth, whilst bearing down on fares.
For the third consecutive year, Londoners will benefit from a reduction in their council tax as the Mayor’s portion will fall from £303.00 to £299.00 a year (for a Band D household). This reduction equates to a 24 per cent reduction in real terms since his election in 2008. Under the previous administration, the Greater London Authority precept rose by 152 per cent over a period of eight years.
The Mayor of London Boris Johnson said:
’By making sensible savings over the years, we have been able to deliver a budget to help hard-pressed Londoners. This budget protects key services, investment in jobs and growth, affordable housing and vital transport infrastructure, whilst at the same time provides a modest cut in the council tax and bears down on fares.’
The Mayor is allocating an additional £1 million to his apprenticeship programme, to be matched by European funds, to help deliver 250,000 apprenticeships by 2016. The Mayor is also committed to continuing the success of his Outer London Fund and investment in High Streets. He is providing an additional £9 million to help boost jobs and growth, by supporting a range of schemes designed to help high streets survive and thrive.
Notes to editors
- Key Deliverable from the budget include:
- support up to 200,000 jobs;
- deliver the Mayor’s property pledge, including building 55,000 low cost homes;
- create 250,000 apprenticeships by 2016;
- maintain a police officer establishment at around 32,000;
- maintain the existing targets for how quickly fire engines attend incidents;
- reduce Tube delays by 30 per cent by 2015 compared to 2011;
- reduce the number of people killed or seriously injured in London by 40 per cent by 2020;
- introduce a new 24-hour Tube service at weekends from 2015;
- continue to deliver Crossrail, which will transform rail capacity and journey times;
- deliver the Northern Line extension to Nine Elms and Battersea;
- deliver 600 New Bus for London vehicles by 2016; and
- promote and deliver the regeneration of the Queen Elizabeth Olympic Park and surrounding area.
- The Mayor’s 2014/15 Council Tax requirement is £787m. The total GLA precept will be reduced from £303.00 to £299.00 a year (Band D household).
- The Mayor’s proposed council tax precept draft budget comprises of £564m to support the Metropolitan Police service, £138m for the London Fire Brigade, £61m for the 2012 Olympic and Paralympic Games and £24m for transport and other services.
- The Mayor’s budget consists of – Mayor’s Office for Policing And Crime, Transport for London, London Fire and Emergency Planning Authority, the London Legacy Development Corporation and core Greater London Authority. The total revenue budget expenditure is £11 billion and the Capital Programme £6.3 billion.
- The document is available on the Greater London Authority website www.london.gov.uk/