"City Hall will allocate 12m to protect specialist staff at London & Partners despite a 19.2m funding shortfall The decision has drawn political criticism, with City Hall Conservatives calling London & Partners a budget drain and mocking its business-investor speed dating events The GLA faces broader financial pressures, including the loss of post-Brexit government funding, potential reduced stadium income if West Ham are relegated, and the cost of relocating staff"
"London & Partners, which often accompanies the London mayor on his foreign trips, has been assured that 12m will be found next year to prevent it having to lay off specialists who would be hard to replace. But Susan Hall, leader of the City Hall Conservatives, said London & Partners was a massive drain on the budget and had failed to become financially self-sufficient as originally envisaged."
City Hall will find 12m next year to protect specialist staff at London & Partners and avoid losing hard-to-replace specialists. The allocation aims to sustain Grow Local and Grow Global schemes that support small firms expanding locally and internationally. The funding decision responds to a 19.2m shortfall and follows the loss of post-Brexit government funding that had replaced EU money. The GLA also faces potential reduced stadium income if West Ham are relegated and costs from relocating staff. Protecting London & Partners may require cuts among the Greater London Authority's roughly 1,500 core staff to balance the budget.
Read at www.standard.co.uk
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