Magazine article Public Finance

Princess Fountain Slammed by MPs

Magazine article Public Finance

Princess Fountain Slammed by MPs

Article excerpt

The Commons Public Accounts Committee has criticised the £5.2m Princess of Wales Memorial Fountain project in Hyde Park, saying poor management has led to spiralling costs.

The fountain - which opened in July 2004 and was £2.2m over budget - was ill conceived, said PAC chair Edward Leigh. It reopened last May after closing because of blockages and injuries.

'This so-called water feature will literally be a drain on the resources of the Royal Parks agency for years to come,' Leigh said, noting that it will cost an estimated £250,000 a year to maintain the memorial.

'This is a typical example of the great and good airily embarking on a prestige project which will take away money badly needed for the upkeep of national recreational facilities enjoyed by millions. …

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