Garden Bridge cost £43m of public money

15 Feb 19

London’s failed Garden Bridge project cost the taxpayer £43m in total, figures have shown.

The plans, which were scrapped in August 2017, cost a total of £53.5m, according to analysis by Transport for London.

The Department for Transport and TfL spent £19m and £24m on the project respectively, while the remaining £11m came from the private sector.

The Garden Bridge Trust, the charity fully responsible for the construction and management of the project since November 2015, received around £37m in various grant payments.

A further £5.5m will now be given to the trust from DfT funding as part of a cancellation agreement, but this fee could have been 40% higher, TfL said on Wednesday.

Alex Williams, director of city planning at TfL, said: “As part of our continuing commitment to transparency, we have published the final financial breakdown for the Garden Bridge project, on behalf of the trust, as well as all evidence sought as part of this review.

“We worked to ensure that the cost to the public sector has been kept to a minimum, and having carefully reviewed the Garden Bridge Trust’s request, we have now confirmed the final payment legally required under the terms of the underwriting agreement made by the government.

“This formally ends our involvement with the project.”

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