GLAP missed repayment deadlines for £300m government loan and concerns raised over poor management
Taxpayers may be forced to bail out Sadiq Khan’s London housing fund, after it repeatedly missed repayment deadlines for a £300m government loan and its auditors raised concerns over poor management.
The London mayor’s property development vehicle, known as Greater London Authority Land and Property Limited (GLAP), inherited the £300m debt when it was formed under Boris Johnson in 2012, after a merger of other public development bodies.
