At a meeting on Wednesday, the Conservative and Labour Groups combined to vote for over £23m in cuts from the transport budget, which Livingstone says will threaten plans for transport improvements in the capital.
If approved by the assembly, the mayor’s budget could force London councils to raise council tax by an average of 73p per week.
Speaking after the discussions, which closed without agreement, Livingstone said he was disappointed that there was no broad consensus as there was a need for urgent extra funding.
‘I very much hope they will reconsider this short-sighted decision when the full consequences of what they propose is explained to them,’ he said.
But hinting that he may have to concede to the assembly, he said if efficiencies could be identified in his plans then the budget should be amended to incorporate them.
The assembly will vote on the budget on 15 February.
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Company bosses are considering relocating operations or headquarters away from the UK following the country's decision to leave the European Union