Taxpayers might need to bail out Sadiq Khan's GLAP after it failed to repay a £300m government loan, with auditors raising issues about poor management.
GLAP, established under Boris Johnson, has consistently missed repayment deadlines since inheriting the 300m debt, with only one payment made this year.
Internal audit documents highlighted concerns about GLAP's management practices, revealing no evidence for missed repayments and lack of formal documentation in decision-making processes.
With ownership of 635 hectares of land, GLAP is aimed at alleviating housing shortages, yet its financial mismanagement raises doubts about its effectiveness in this role.
Collection
[
|
...
]