London’s controversial Garden Bridge today appeared doomed after a damning audit urged Sadiq Khan to pull the plug.
The report by Labour MP Margaret Hodge said the £60m cost had risen to more than £200m and the project’s finances were in a ‘precarious state’.
Dame Margaret said the project should be abandoned even though taxpayers would lose more than £45m.
The former chair of the influential Commons Public Accounts Committee was asked by London’s mayor to examine the bridge’s value for money.
The mayor last year postponed a critical decision to underwrite the annual £3m maintenance costs until after Dame Margaret’s report.
The Garden Bridge, designed by Thomas Heatherwick, was based on an idea by Absolutely Fabulous actress Joanna Lumley.
The charity trust behind the bridge said fundraising had effectively stalled since the start of Dame Margaret’s probe and the project was still £56m short of its target.
The Hodge report also concluded Transport for London’s tendering process for the bridge was not ‘open, fair and competitive’.