I’m delighted that the Mayor has this morning given a commitment to preserve vital LIP funding for local authorities in London.
Local Implementation Plan (LIP) funding is money given by TfL to London’s boroughs to spend on local projects that support the Mayor’s Transport Strategy. It is a vital source of funding that the previous Mayor consistently protected.
The Mayor told me that local authorities should operate as if LIP funding will be the same for the next year and, when I asked him if it would be fair to tell local authorities that LIP funding is secure, he stated that 'it would be very fair.' Clearly the proof of the pudding will be in the eating but, after he recently seemed to wobble on this commitment, it is very good news if LIP funding – which is a key funding stream for boroughs – is secure.
– Keith Prince, London Assembly Member for Redbridge and Havering