§ Ms BuckTo ask the Secretary of State for the Environment, Transport and the Regions if he will set out the transitional arrangements proposed for financing the Greater London authority and the functional bodies in 2000–01 and for financing their predecessor organisations. [73921]
§ Mr. RaynsfordSubject to the passage of the Greater London Authority Bill, the Greater London Authority will assume its responsibilities on 3 July 2000. Special arrangements will be needed to cater for this start part way through the financial year. We shall therefore begin discussions with interested parties on the broad framework of transitional arrangements. Under these, the Secretary of State would set a budget and precept for the GLA, including the functional bodies, as if they were in existence for the full financial year 2000–01. He would receive precept income from the London Boroughs. That income, together with redistributed business rates, revenue support grant and other grants would be paid to the predecessor organisations in respect of the period up to 3 July, and to the GLA in respect of the remainder of the year. Following consideration of the broad framework, there will then be further discussions on the detailed application of the transitional arrangements.