What, if any, impact does additional borrowing by one of the GLA functional bodies have on the borrowing capacity of other functional bodies?
Except where any additional borrowing was supported by a transfer of revenue resources between members of the GLA Group, particularly any transfers between the GLA and its Mayoral Development Corporations, there should be no impact of additional borrowing by one of the GLA's functional bodies on the borrowing capacity of other functional bodies. This is because borrowing by any member of the GLA Group has to be in accordance with CIPFA's Prudential Code and would be a separate and independent decision by that body.