Mayor must come clean over funding arrangements of London cycle hire scheme – Caroline Pidgeon

February 26, 2014 6:41 PM

Caroline Pidgeon AM, Leader of the Liberal Democrat London Assembly Group, has urged the Mayor to publish in full the complete schedule of funding that the cycle hire scheme has received from Transport for London, London Boroughs, Barclays and others over the last four years. The call comes after continual confusion over how much funding Barclays have actually contributed to the sponsorship of the scheme.

The Mayor was challenged by the London Assembly Member to publish a clear schedule of all the payments that the bike hire scheme has received from different sources at today's Mayor Question Time at City Hall.

Commenting on why this information must finally be published Caroline Pidgeon said:

"Getting to the bottom of how the cycle hire scheme has actually been funded has been a continual battle. Over the last four years there has been far too much confusion and secrecy over the sponsorship deal.

"Just a year after launching the scheme in July 2010, with an initial five year sponsorship deal with Barclays of up to £25 million, the Mayor was boasting that Barclays would provide an 'additional' £25 million. That extra funding has not come through yet Barclays has benefitted from their logo being on an increasing number of bikes and docking stations across London, especially since its expansion into parts of south west London.

"The bike hire scheme is a brilliant development but from day one it is has been hindered by a poor sponsorship contract.

"The Mayor must now publish the full details of every source of funding that the bike hire scheme has received and ensure future sponsorship deals do not repeat the mistakes of the haphazard deal that was struck with Barclays."


ENDS

Notes to editors:

1. On the 28th July 2011, one year after the bike hire scheme had been launched, it was claimed by the Mayor and TfL that an "additional" £25 million had been secured from Barclays Bank.

http://www.tfl.gov.uk/static/corporate/media/newscentre/archive/20667.html

2. For further information about the differing claims being made by TfL over the contributions that will be made by Barclays Bank see:

http://www.mayorwatch.co.uk/barclays-bike-sponsorship-tfl-declines-to-explain-contradictions-in-own-statements-while-bank-insists-its-in-talks-to-pay-more/