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My understanding is that it would be a joint undertaking, but I will check the detail of any financial arrangements and report back to the hon. Gentleman.
As I was saying, the bridge must be predominantly funded by the private sector. As things stand, at least two thirds of the funding will come from private donations.
I understand that there are many concerns about the project, some of which I will talk about. The hon. Member for Vauxhall has already articulated a number clearly and in detail. The Garden Bridge Trust was set up in 2014 to manage the construction of the bridge. This experienced group of trustees has complete control over development and fund raising. The Department for Transport and TfL speak to the trust regularly to discuss progress and concerns. A significant amount of work has already been achieved on this complex project, which involves many different interested parties, and a huge amount of progress has been made. The land must be secured, permission to use the river obtained, and all necessary land planning conditions secured. A large ship, HQS Wellington, will also need to be moved. Those are all complex tasks that will take some time to achieve. There is still much work to be done before construction can start, but most issues are expected to be resolved soon.