Morning:
10°c
TfL faces big shortfall in fares income due to slump
Pippa Crerar, City Hall Editor13.01.09
TRANSPORT for London is facing a "significant shortfall" in its fares income as a result of the economic downturn, it was warned today.
The London Assembly's budget committee said TfL had been forced to revise its budget for the next financial year and it could have a detrimental impact on services and infrastructure projects.
Almost half of the body's £7.6 million yearly income is "vulnerable" to changes in the capital's economic performance as it comes from fares and congestion charge revenue, which are expected to fall in a recession.
In its response to Boris Johnson's draft budget, the committee urged the Mayor to lobby ministers for extra funds for major transport infrastructure projects.
Although the report did not highlight any particular projects there is a threat to the Tube upgrade and the DLR extension.
John Biggs, chairman of the committee, said: "London has been hit by the shock engulfing the world economy and many of the capital's priorities will have to be revisited.
"But changing the budget has consequences for Londoners who receive services and pay for them."
Reader views (11)
It just proves that you can't keep putting fares up and expect everybody to put up with it like puddings. People are riding bicycles, walking from a London terminal rather than buying a Travelcard, or avoiding zone one charges by taking the bus. This is what happens when you think that people do not have a choice.
- Nick Dowling, London, England
Visit Oxford Street.
Maybe TfL should stop running empty buses on duplicated routes.
I forget,TfL is funded by tax payers therefore doesn't live in the real world.
- Dwayne, Sunny Essex.
If there were more inspectors on the buses, then the money would increase significantly.
Its time for some of these drains on our society to actually pay their way
- Dene Wood, Grays, Essex, That little country by the sea that used to have
It seems to me that they have started all these expensive Olympics projects and additions and neglected the core system. They should have renovated the central network first before adding all these side tracs. It seems to get slower and slower every month! And more expensive because they have to pay for these olympics.
- Pat, Primrose Hill, London
Mark, you forgot the Jubilee signalling upgrade, which I think just beats the Victoria into service. Also the East London Line is on time and on budget.
It beats me why people think we need to cut back on investment in order to invest. Hello? Cost/benefit ratios mean anything?
- Tom, London,UK
A lot more income would be generated if the bendy buses were better monitored and people not able to ride on them without paying for the privilege.
The inspectors that are around occasionally need more colleagues and also should not always operate int he same area, the people that continually ride free know exactly where the inspectors are going to be and also get forewarned by friends by e.mail that this is happening.
- Wendy, Lonbdon - Free Bus County
Boris should look into scrapping all extensions of the toytown docklands railway, they're only being built for this ridiculous olympics and no-one wants to live or work out there anyway amongst the east end slums. That will save millions.
- Shelia, London
Georgie - what exactly is 'broken' with Central London tubes? Do you take public transport in central London often? You may have failed to notice that work is underway to renovate the vast majority of stations (and has been completed for many); new trains are soon to be delivered for the Circle, District, Metropolitan and Hammersmith & City lines, all with air conditioning, and will increase capacity by 33%. The Victoria line upgrade is nearly complete, which will see quicker journeys, new trains and 10% increase in capacity. Similar work is underway on the Northern line.
True, you may be cramped on the tubes, which is why investment in new infrastructure such as Crossrail and the Cross River Tram is critical...
- Mark Lee, Vauxhall
They should have thought about that before they put the prices up! I've thought twice about buying a yearly travel card incase I lose my job.
- Triffdqueen, Desk in London
A good time probably for rationalisation. No silly new projects or extentions and back to basics - making central London work!! It is all good travelling to border London and then getting stuck with the rest of the old broken tube and bus lines in Zone 1 !!
- Georgie, Islington, London
Welcome to the real world TFL cust your bloody staffing levels, marketing budgets, mangerial posts, and treat it as a private business.
Not some public sector gravy train.
- P I Staker, London
