Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Garden Bridge Trust admits funding gap

Garden bridge

The Garden Bridge Trust has admitted a shortfall in funding for the project and has called for Government to demonstrate its continued support.

The Trust has asked for the Government’s £15M underwriting of the controversial project to be extended by a year to September 2017 – from the existing £60M public funding package.

Following delays in land negotiations and planning issues, the total cost of the project is currently estimated to increase from £175M to £185M.

The Trust has raised just over £69M of private funding from 2013 to June 2016. A further £55.9M is now required to meet the fundraising total.

“The Department for Transport (DfT) and Transport for London (TfL) have been valuable supporters and partners from the very beginning. They provided funding because of the clear public transport case for the Bridge, without which we would not have got the project off the ground. This funding has helped kick start the public funding drive,” said Lord Mervyn Davies, chair of the Garden Bridge Trust.

“Now is a crucial time for the Garden Bridge. We have faced considerable challenges but we are now on the brink of building a truly unique crossing. It would be a tragedy if the Government withdrew their support now.

“The decision now rests with the DfT to extend the underwriting. We are not asking for more public money but we do need the Government’s renewed backing.”

Construction will not start until land deals on both sides of the river have been finalised and all outstanding planning issues have been resolved. This is expected to be concluded by autumn 2016.

The completion date for the Garden Bridge is now scheduled for 2019.

Readers' comments (3)

  • Now is surely the time to pull the plug on this ridiculous project. If there is a 'clear public transport case' for the crossing, let's simply build another 'iconic' footbridge - open to the public 24/7 - and not a structure to carry tons of soil, trees and other paraphernalia.

    Unsuitable or offensive? Report this comment

  • It is rather unfortunate that civil engineering as a profession is so in thrall to vanity projects like this one. Our professional code of ethics seems to have been parked as our once greater position enabled us to tell society from the start:- "this project is not sensible and the money would be better spent elsewhere". Nowadays civil engineers fall in behind the latest vanity project like HS2 rather than carry out a real professional job to society in pointing out the absurdity of many of these politically hair brained ideas. Most of us are technicians and not professionals and that is not to disparage technicians - who do an excellent job in delivering what professionals decide using traditional techniques. We're just too scared for our jobs to be real professionals.

    Unsuitable or offensive? Report this comment

  • This whole project continues to be either a joke or a nightmare - depending on what frame of mind you're in at any particular moment.
    All logic says 'stop'.
    We don't need this not-quite-a-crossing of the Thames with an apparently insatiable appetite for public money
    The high level garden walkway project in the US worked because it was a creative use of a disused viaduct. Plenty of opportunities to replicate that are visible from the DLR and might bring footfall/regeneration to areas that could benefit.

    David Gartside

    Unsuitable or offensive? Report this comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Please note comments made online may also be published in the print edition of New Civil Engineer. Links may be included in your comments but HTML is not permitted.

Related Jobs