Flying by the seat of their pants

 

(Walter Menteth article origionally published September 13, 2016 in LinkedIn Pulse)

There have been significant recent revelations about the Thames Garden Bridge in London and the Garden Bridge Trusts structure and funding.

These reveal the Trusts near exclusive reliance on public funding, which reputedly amounts to £30m from Transport for London, £30m from central government, along with the costs and liabilities of indemnifying the project along with the contracts the Trust has entered into.

There have also been revelations about the number of significant and expensive contracts the Trust have now let on their own account, at exceptionally high risk. These have onerous obligations and damaging break clauses. These have been let prior to the project having received full authority and clearance to proceed with construction. Continue reading “Flying by the seat of their pants”