The Greater London Authority (GLA) will get the first proceeds of Olympic land sales as part of a new deal to compensate it for taking on £231 million of debt from the original purchase of the land.

The Assembly's Budget and Performance Committee will tomorrow, 5 January, question the Mayor's Chief of Staff about the new agreement with the Government.

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As they examine the Mayor's budget for the next financial year, Assembly Members will also look at how limited grant funding for economic development could affect the Mayor’s plans and how the Metropolitan Police Service hopes to close an £86 million gap in its budget.

Later in the meeting, representatives of the capital's fire and transport organisations will be asked about the effect of the Mayor’s proposed budget on their plans and services.

(CD/GK)