Garden Bridge Expenditure
Request ID: FOI-0668-1920
Date published: 13 June 2019
You asked
Please can you tell me how the costs associated with the failed London Garden Bridge project were accounted for (2 questions below).
I note that in excess of £40m public money was spent.
1 - Was the original expenditure accounted for as capital expenditure?
2 - If yes, has this expenditure been written off and covered under a revenue account?
We answered
Our Ref: FOI-0668-1920
Thank you for your request received on 4 June 2019 asking for information about the Garden Bridge.
Your request has been considered in accordance with the requirements of the Freedom of Information Act and our information access policy. I can confirm we hold some of the information you require.
We have published a detailed breakdown of the final expenditure on the project on our website:
https://tfl.gov.uk/cdn/static/cms/documents/gbt-costs-breakdown.pdf
The total public sector funding allocation to the project was made up of £30m from TfL and £30m from the Government, which was made available through a variation to our grant allocation. Approximately £43m of that allocation was spent on the project, which was split between £24m from TfL and £19m from the Department for Transport.
All of the TfL expenditure on the project took the form of operational expenditure. We can not comment on how the Garden Bridge Trust have accounted for their expenditure.
If this is not the information you are looking for, or if you are unable to access it for some reason, please feel free to contact me.
Please see the attached information sheet for details of your right to appeal.
Yours sincerely
Gemma Jacob
Senior FOI Case Officer
FOI Case Management Team
General Counsel
Transport for London
[email protected]
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