Sunday, 29 March 2015

H&F Labour secures over £50m of extra funding for borough residents after renegotiating Conservative property deals

Hammersmith and Fulham’s Labour administration has renegotiated property deal done by their Conservative predecessors, securing more than £50 million in extra funds for H&F residents.

After winning the election in May 2014 promising to get better deals for residents, Labour councillors urgently examined a series of agreements that had already been recently agreed and signed off by the Conservatives.

The extra £50m secured by Labour as a result of revisiting the deals will:

• Deliver 231 new affordable homes.
• Increase locally-funded police officers by 20%
• Support arts and local infrastructure.

H&F Council Leader, Cllr Stephen Cowan, said: “Too many Conservative councillors cosied up to property developers and were weak in the deals they agreed on behalf of our borough. Mayor Boris Johnson is still doing that today. Despite that we have taken a firm line and by the middle of last summer we had renegotiated an extra £16.2 million on deals Conservative councillors had already agreed and closed the book on. That figure now stands at over £50 million and we will win more".

Stephen Cowan added "Last year people voted for our new Labour administration so we could 'put residents first - not property speculators'. That's exactly what were doing and providing hundreds of more affordable homes, extra police and other benefits for the people of this borough as a result".

Several more large-scale developments are still under renegotiation and it is expected that more will be secured for residents in the coming months.

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