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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Cats and dogs and Pokémon and ball pools: The eight joyful trains of Japan

Okay, it may not look like much, but... the exterior of the Genbi Shinkansen art experience. Image: ©Mika Ninagawa, used courtesy of Tomio Koyama Gallery.

If you’re on this website, you’ll likely agree with the statement: trains are good. We like trains. Trains are marvellous.

But in Britain our idea of a good train is “runs on time, doesn’t smell of wee, possibly has a spare seat”. Our national rail ambition has been battered by years of this crap: the most exciting we can hope for is to catch sight of the Orient Express as it flashes through a station, or a ride on the Settle to Carlisle railway.

Yet in Japan, there are trains dedicated to art and sake and Pokemon. There’s a train with a ball pool, for Christ’s sake.

These trains aren’t usually part of the ‘real’ timetable (that is, they don’t show up in the regular searches), and sometimes only run on specific days, they do still run proper routes. The Tohoku Emotion, for instance (all about dining; one car is an open kitchen) runs between Hachinohe and Kuji, adding a direct train between those cities in an otherwise annoying two hour gap.


Cost is, of course, another issue. It’s not possible to book many of these trains outside Japan so prices are tricky to come by, and some of the dining packages on offer will obviously involve laying down some hefty yen.

That said, the Kawasemi Yamasemi, an exquisitely decorated train that runs three times every day direct between Kumamoto and Hitoyoshi in central Kyushu, costs about the same as travelling between the two on the bullet train (it’s faster too, because it’s direct). And I’m happy to bet the farm that any of these trains will cost a damn sight less than Japan’s newest, shiniest novelty train – and probably be more fun.

So without further ado, here are some of the best – and this really is what they’re called – Joyful Trains in Japan.

Pokémon with YOU

Yes, there really is a Pokémon train. Introduced in Tohoku to cheer up – and raise money for – the region’s children after the 2011 earthquake and tsunami, the service runs between Ichinoseki and Kesennuma stations, and if Niantic hasn’t worked out a way to put special Pokémon Go characters at each station, it’s missing a trick. There’s a playroom with big Snorlax cushions, the Drilbur Tunnel and real life Poké balls. And, as far as we can tell, a seat costs less than a fiver.

Oh, and because it’s run by JR East, you can do a Google Street View walkthrough of the whole train, which are available for many of the company’s Joyful Trains. Japan. Is. Awesome.

Image: Google Street View.

Tama-Den

If cute character-themed trains are your thing, then you should also check out the Tama-Den which runs on the Wakayama Electric Railway’s Kishigawa line. Tama, you may recall, was a calico cat who became feted as a stationmaster, and elevated into a goddess when she died in 2015. (Her replacement, Tama II, works a five day week at Kishi station.) The Tama-Den is covered in drawings of her. And you thought your cat was spoiled.

Meow? Image: as365n2/Flickr/creative commons.

The same company also runs the Omo-den, which is all about toys and has cash-guzzling capsule toy vending machines on board.

Aso Boy!

Where there’s a cat train, there must also be a dog. Aso Boy! usually takes you past the caldera of Mount Aso, the largest active volcano in Japan, but since the Kumamoto earthquake the route is altered.

 But even with the lack of its main scenic draw, this is still a top train because it features the cutest of all Japan’s regional mascots. Kuro is JR Kyushu’s yuru-chara and the damnably adorable dog gets everywhere. It’s one-up on the Tama-Den because you can buy Kuro-themed food and souvenirs, and this is the train with the ball pool.

The balls are wooden though. Ouch.

On board Aso Boy! Image: Jill Chen/Flickr/creative commons.

Genbi Shinkansen

The bullet train is cool enough, but this one is decorated inside and out with the work of eight modern artists. Running between Niigata and Echigo-Yuzawa, the Genbi Shinkansen reckons it’s the world’s fastest art experience. With a journey time of just under an hour, works range from standard wall-mounted paintings to art that’s literally part of the furniture.

Images: ©Mika Ninagawa, used courtesy of Tomio Koyama Gallery.

SL Ginga

Not only is this train hauled by a steam locomotive, it has a freaking planetarium on board. It’s inspired by children’s author Kenji Miyazawa’s book Night on the Galactic Railroad which is set in the early 20th century, and the decor is meant to echo that era. There are galleries devoted to Miyazawa’s life, and the train runs between Hanamaki – where he was from – and Kamaishi.

Image: Google Street View.

FruiTea Fukushima

The whole of Fukushima province has been tainted by association with its namesake nuclear power plant, which is deeply unfair as it’s a gorgeous part of the country.

To drum up tourism, the FruiTea train went into service a couple of years ago on the standard line connecting Koriyama to Aizu-Wakamatsu, a castle-and-samurai town. There are several Joyful Trains dedicated to eating and drinking, but this one deserves a mention because its locally produced fruit snacks and drinks deserve wider recognition. As does the area.

Here’s your Google Street View walkthrough:

Image: Google Street View.

Shu*Kura

There are three Shu*Kura trains, all departing from Joetsumyoko but with different destinations. This is another train dedicated to eating and, well... drinking.

Niigata Prefecture claims to brew the finest sake in the world, and this three car service showcases the best of them. It also has live music and snacks, but the point here is that you can stand at a sake cask-themed bar and get tiddly without anyone judging you, like they would for that M&S prosecco.

And check out the lights on that thing.

Image: Google Street View.

Toreiyu Tsubasa

This is the train to catch if you want to go full Japan. Most of the cars don’t have seats, they have tatami mats and low tables instead, billed as a ‘conversation space’.

There’s another tatami car designed as more of a lounge for people after they’ve used the footbath. Yes, you did read that correctly. A footbath. You’re not going to want your shoes with all this tatami anyway, and it’s a unique way to view the scenery between Fukushima and Shinjo.

Image: Google Street View.

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