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New Figures Show Greenwich Peninsula Missing Out On Development Money

Newly published figures suggest that Greenwich Council has collected over £13 million from new developments in Peninsula ward, but have spent only a fraction of that money in the ward itself.

The money collected from developers, known as Section 106 payments, is meant to be spent on projects to moderate the impact of the development on the local area.

The statistics, published prior to a Greenwich Cabinet meeting on 6 December, show S106 agreements across the Borough, dating back to 1998. Greenwich Green Party have analysed these figures and have calculated that S106 payments from developments on the Peninsula have paid for around £13 million of Council spending – of which only around £1.2 million has been spent on specific projects in Peninsula ward. Around £1.3 million from S106 payments elsewhere in the Borough have been spent specific projects in Peninsula ward. This means that a total of around £2.5 million of S106 money has been spent in Peninsula, compared to around £13 million of S106 money raised from it. 

Commenting today Matt Browne, one of three Green representatives for the Peninsula, said:

These figures show Labour councillors yet again failing to listen to residents on the Peninsula. We have always said that, if Peninsula is to have the 15,000+ homes planned by the Council, money needs to be spent on local amenities to match. For every pound development on the Peninsula has raised for the Council less than 20 pence has been spent back in the ward.

Labour councillors are putting Peninsula residents through a lot of development pain, for very little local gain.

Greenwich Greens are pressing the Labour Council to improve on its dismal record, especially as there is still a lot of S106 money from Peninsula developments still to be spent. There is also a small proportion from the new Community Infrastructure Levy that the Council, after campaigning on this issue from East Greenwich Residents Association and others, has finally committed to spend on projects chosen by the community.

New parks, community spaces and artwork for all residents to enjoy are long overdue. It’s time for Peninsula to get its fair share!