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• Reference: 2017/4151
• Question by: Peter Whittle
• Meeting date: 02 November 2017

With the housing market currently stagnating due to record house prices, banks clamping down on mortgage lending through tougher affordability criteria and interest rate rises looming on affordability requirements, are the current plans by the LLDC just too ambitious?

• Question by: Peter Whittle
• Meeting date: 02 November 2017

Peter Whittle AM: Thank you, Chair. David, good morning. I notice that one of the planks of the whole development is going to be the Cultural and Education District. This is absolutely to do with the long-term finances of the whole project. I notice that apparently for the construction costs originally, for example, for the Victoria and Albert Museum (V&A), you were looking at philanthropic donation to cover it. That has been abandoned and now you are going to underwrite it. According to your draft budget submission it is now assumed the museum building development will be repaid through a...