Taxpayers may need to bail out Sadiq Khan’s London housing fund, say auditors

GLAP missed repayment deadlines for 300m government loan and concerns raised over poor management

Taxpayers may be forced to bail out Sadiq Khan's London housing fund, after it repeatedly missed repayment deadlines for a 300m government loan and its auditors raised concerns over poor management.

The London mayor's property development vehicle, known as Greater London Authority Land and Property Limited (GLAP), inherited the 300m debt when it was formed under Boris Johnson in 2012, after a merger of other public development bodies.