I am listening to the final budget debate and waiting for someone to ask the most obvious question. How can we sustain the drawing down of reserves at the rate of Â£436.9 million per annum?
Follow this link and go to the last page.
The GLA bodies are expected to draw down reserves next year as follows:
To give some context this sum is about the same as the LFEPA and LDA budgets and three times the GLA budget.
Elizabeth Howlett, as a member of the MPA, did ask whether it was prudent to draw down their reserves to the tune of Â£4.0 million but in all the hurly burly of talking about bussing young people around the Mayor has managed to avoid talking about this massive hole.