Garden Bridge unlikely to raise enough private funding to protect the taxpayer, says official review

This bloody thing again. Image: Heatherwick.

Another month, another nail in the coffin of Boris Johnson’s last vanity project for London.

This week it’s Dame Margaret Hodge, the Labour MP for Barking and former chair of the Public Accounts Committee, who is calling for the Garden Bridge to be stopped. Dame Margaret was asked to review the scheme by Bozza’s replacement as London mayor, Sadiq Khan, last September, in which looked suspiciously like a step towards the long grass.

And would you believe it? Her report has found that n large but uncertain share of the cost looks likely to fall on the taxpayer, rather than the private backers we’d all been promised. She concludes that the whole thing should be halted until the promised finance materialises.

Here’s are some extracts from her report, annotated with my headlines.

The taxpayer contribution keeps on creeping upwards...

The original ambition to fund the Garden Bridge solely through private finance has been abandoned. Furthermore the goalposts have moved several times and each time the risks to the taxpayer have intensified.

As does the price...

Looking to the future, the costs of construction have escalated and are likely to increase further. What started life as a project costing an estimated £60 million is likely to end up costing over £200 million.

Those private investors are nowhere to be seen...

At the same time the Garden Bridge Trust has lost two major donors and has only secured £69 million in private funding pledges, leaving a gap of at least £70 million that needs to be raised for the capital investment. No new pledges have been obtained since August 2016.

And that ain’t likely to change....

At the same time I am sceptical that the Garden Bridge Trust will succeed in raising all the private capital monies required and I am firmly of the view that more public money will be needed to complete the construction....

...because not everyone in London is Joanna bloody Lumley...

The project has become very controversial with the public. If the Garden Bridge is not treasured by the public in the same way that it is by its creators, then the business model, based on raising private finance is far less likely to succeed. Philanthropists will be cautious about associating themselves with the project.

Last but not least...

I do not believe the Trust will secure the philanthropic support it needs to fund the ongoing management and maintenance of the Garden Bridge.

This last bit sounds dull but is, in some ways, the real kicker. Raising investment to build the thing is in some ways the easy bit: rich people like being able to point to a thing and think “I did that”. Persuading people to stump up so that someone can clean it and stop bits falling off is rather harder.

While we’re at it, there’s a moral hazard problem with getting private interests to fund the bridge now the state is involved. If the bridge isn’t happening unless investors stump up, and investors really want it to happen, then, well, they’ll have to stump up. But if it becomes clear that the state will plug the shortfall, what incentive is there for investors to get involved at all?

Dame Margaret’s conclusion is, basically, the whole thing should stop, until the private investment arrives:

“It would be better for the taxpayer to accept the financial loss of cancelling the project than to risk the potential uncertain additional costs to the public purse if the project proceeds.... I would urge the Mayor not to sign any guarantees until it is confirmed that the private capital and revenue monies have been secured by the Garden Bridge Trust.”

In other words, it’s better to accept that the £60m the taxpayer has already spent on the bridge was a total waste of money than to keep chucking money at it indefinitely.

The Garden Bridge Trust, quite naturally, disagrees. It replied with the following, pleasingly bitchy statement:

“We are pleased that Dame Margaret has finally published her report after six months of uncertainty.” 

“We will be studying the report in detail and seeking a meeting with the Mayor of London to discuss next steps.  The Trust remains as determined as ever to make the Garden Bridge happen which will bring huge benefits to London and the UK.”

See that? They’re as “determined as ever”. Well, for my part, I remain determined as ever to become a handsome billionnaire.


So is it dead? Is it finally, actually dead? Well, no, not yet. But it’s not looking very well.

Jonn Elledge is the editor of CityMetric. He is on Twitter as @jonnelledge and also has a Facebook page now for some reason. 

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This app connects strangers in two cities across the world. But can it tackle urban loneliness?

New Delhi, in India, where many of Duet-App's users come from. Image: Ville Miettinen

“You can be lonely anywhere, but there is a particular flavour to the loneliness that comes from living in a city, surrounded by millions of people”. Olivia Laing, The Lonely City

Our relationship to where we live and the spaces we inhabit define who we are and how we feel. But how often do we articulate the emotional impact of this relationship, whether this be loneliness, frustration or even civic pride?

“When I moved to a new city, started living alone, wanted to drink less, stay indoors more, and when I realised that I cannot make any more best friends.”

A new social network, a simple app that connects two individuals from the UK and India, aims to counter some of these issues.  Over the course of a year connected pairs receive one question a day through the app and their responses are exchanged with each other. A simple interaction that gradually builds a series of one-on-one relationships and invites users to imagine, over time, the other person living their life.

Distant geographies are an implicit part of the experience, therefore many of the questions nudge users to explore correlations between their physical and emotional landscapes. The data shows us that many of the Duet-App users are located in populous urban cities like Delhi, Bangalore, Manchester, Leeds and London, places that can just as often discourage feelings of belonging and place-making as much as they foster them.

“I had thought I'd never be able to live here again. but here I am living again at home after almost a decade living elsewhere. Living in Mumbai is a contact sport, and I can't do without it's chaos and infectious energy.”

Mumbai, India. Image: Deepak Gupta

In general cities are getting bigger and spreading wider at the same time as our communications are increasingly being conducted online and via digital gateways.

There is a sense that much of our online personas project an idealised version of ourselves; we increasingly document and express our daily lives through a filter and we are not always comfortable with a spontaneous expression of ourselves. Duet-App seeks to foster alternative digital relationships that through their anonymity allow us to be more honest and free.

“I feel a lot of people assume that I always have a lot going on for me and everything's always happy and amazing. I wish they could appreciate... how much of my own anxiety I swim in every single day. I appear and behave “normal” on the outside, calm and composed but there are always storms going on in my head.”

In exploring the responses to the questions so far, those that often garner the most replies relate directly to how we feel about our personal position in the world around us. Often these questions act as provocations not only to share responses but to reflect and articulate our thoughts around how we feel about what we are doing in the here and now.

Manchester, another popular city for Duet-App users. Image: Julius 

“Sometimes I feel sad about it [getting old] because I saw how easy it would be to feel lonely, and the fact that the world is set up for able-bodied young people is a bit of a travesty.”

Although many social media platforms allow for distant engagement and access into the lives of others we are in the main still curating and choosing our friendship circles. Through Duet-App this is randomised (and anonymised) with the intention of bypassing the traditional mechanics of how we broker online relationships. While directly exploring the digital space as a place for intimacy.


“Where do you go for peace?

“Well the internet, really. I do some mindless browsing, peek into the fandoms, listen to a few songs. Calms me down.”

Snapshots into the lives of someone existing and playing out their lives remotely can highlight shared concerns that break down preconceptions of how life is lived by others. Prompted by the reflections of a stranger exposed to our lives, digital relationships can encourage us to address the physical space we inhabit and the effects that the cities we live out our lives in have on our own well being. 

Catherine Baxendale is director of Invisible Flock.

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