– Letter confirms project may stall if additional cash is not found
– Mayor’s fares policy could be putting £284million project at risk
Officials at Transport for London have confirmed the Metropolitan Line Extension is £50million short of funding.
The £284million project is set to connect the Metropolitan Line from Croxley to several new stations across Watford. The project received £49million from the previous Mayor of London, but recent cost projections by TfL show that £50million more will be required before it can progress.
Transport for London has revealed its fares income is down £90million in the year-to-date, raising serious questions about the Mayor’s ability to balance the books.
Figures released at the February TfL board meeting show income shortfalls across all forms of transport;
– Overall fares income down £90million due to lower passenger volumes
– London Underground down £43million due to 14 million fewer passenger journeys than budgeted
– Bus fares income down £51million in the year to date as passenger volumes affected by congestion
– London Overground down £7million due to 4 million fewer passenger journeys than budgeted
– Congestion Charge income down £6million due to lower volumes of chargeable vehicles (most likely people modernising cars)
– Travel perk grants free travelcards for flatmates of TfL staff
– Mayor urged to give firefighters free travel instead at a fraction of the cost
A perk that grants free travel to the flatmates of TfL staff now costs London taxpayers over £33million a year in lost revenue, research shows.
London Assembly member Keith Prince wants the Mayor to scrap the ‘ridiculous and unnecessary’ bonus and instead offer firefighters free travel at a fraction of the cost.
TfL currently allows staff to hand out free travelcards to friends, lodgers, family members or anyone else living at their address(1) at a cost of £33.3million(2) a year.
– Piccadilly Line upgrades pushed back four years
– Long term borrowing up 46%
– 27% increase in long-term liabilities
– Overly optimistic predictions on efficiency savings
Commuters are in for a rough four years after the Mayor of London’s TfL business model revealed plans for reckless borrowing and delayed investment.
Commenting, Conservative London Assembly member Keith Prince said:
“Since May we’ve seen the Mayor making wild spending promises with little real hint of how he's going to balance the books.
“Now we know why – he's going to leave the books resolutely unbalanced. This is the business plan of a one-term Mayor who is desperate to keep the show on the road for 4 years with no real thought for how to cope after May 2020.
– Signing-off of plans spells uncertainty for transport network
Conservative London Assembly member Keith Prince said:
“So the Mayor’s ‘fares freeze’ is now official – ‘officially’ leaving TfL with a £640million black hole in its budget, ‘officially’ slashing investment in London’s transport network and ‘officially’ providing no benefit whatsoever to hundreds of thousands of travelcard holders who do not qualify.
“Sadiq Khan has so far been unable to provide any answers as to how he intends to cover the cost of this vain gesture, making his pledge meaningless.
“Some Londoners may well avoid a small increase in their travel costs in the short term, but in the long term all of us will pay for this disastrous policy.”
– Binding arbitration the best solution, says London Assembly member
Responding to the announcement by the RMT that its members voted in favour of strike action on the tube in the run up to Christmas, Conservative London Assembly member Keith Prince said:
“Once again London is being cynically held to ransom by the unions at a time designed to inflict the highest possible damage. How much longer before we say enough is enough?
“The Mayor needs to prevent another tube strike Groundhog Day by backing plans for binding pendulum arbitration, forcing both sides to act as reasonably as possible during negotiations and preventing strikes.
“Londoners do not deserve to be used as pawns in petty industrial disputes. Mayor has a duty to intervene.”
–Mayor’s failed £640m fares freeze hits popular service
Conservative London Assembly member Keith Prince has criticised Sadiq Khan’s plans to remove conductors from Routemaster bus services and eliminate the hop-on, hop-off feature of the service.
The Mayor and Metropolitan Police Commissioner must reassure Londoners that quieter parts of London included in the upcoming Night Tube will not be blighted by increases in anti-social behaviour, says Steve O’Connell
The Night Tube, set to start operation on 19 August, will be transporting thousands of late night revellers to areas of outer London that currently experience low levels of anti-social behaviour.
Even with the announced increased policing presence focused in and around certain Night Tube ‘red stations’, Assembly Member O’Connell believes the Mayor and Met Commissioner should also detail how they intend to keep the peace in quieter areas of outer London.
Public contributions could top up transport provider’s budget
Transport for London should consider using crowdfunding to help finance infrastructure projects like new bus or tram routes, says a new report by Keith Prince AM.
Crowdfunding Transport shows projects have stalled because they are at a benefit to cost ratio just short of making them financially feasible.
TfL could replicate the success of online crowdfunding sites such as Kickstarter or Gofundme to top up its finances and take these projects over the line, says Assembly Member Prince.
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