Garden Bridge in peril after Mayor refuses cash aid

THE chances of the Garden Bridge being built suffered a major blow today after the Mayor withdrew his support for the controversial project.

Sadiq Khan said he was “simply not prepared” to put taxpayers’ money further at risk over the proposed pedestrian Thames crossing. He ruled out providing mayoral guarantees for it, dramatically reducing its chances of being constructed.

It comes after a review into the bridge’s financial viability recommended scrapping the scheme, even though £37 million of public money has already been spent.

The report by senior Labour MP Dame Margaret Hodge, published three weeks ago, said it would be “difficult to justify” giving any more cash while the finances of the Garden Bridge Trust were in such a “precarious” state.

The project — designed by Thomas Heatherwick and backed by then-mayor Boris Johnson — faces a funding gap of at least £70 million after costs escalated above £200 million and donors dropped out. Mr Khan today wrote to the chairman of the bridge trust, Lord Davies, to tell him City Hall will not be providing operations and maintenance guarantees. Without them the project will not meet the conditions of planning approval from Lambeth and Westminster councils, so building cannot start.

Although the trust could seek to amend the conditions it is thought unlikely the boroughs will agree. It could also ask the Department for Transport or Treasury for guarantees.

Mr Khan, who originally opposed the bridge but then changed his mind if it had greater public access, was particularly concerned about increasing costs, the risk of it only being half-built, and doubts over an endowment fund to meet future maintenance costs.

He said: “I have always been clear that not a penny more of taxpayers’ money should be allocated to the project ... providing mayoral guarantees will expose the London taxpayer to too much additional financial risk.” He added it was “unlikely” the trust could raise the private funds required. The Department for Transport and TfL now face writing off the millions they have jointly contributed. @PippaCrerar