And commuters pay...
Roger Evans: How much additional revenue does TfL expect to receive from this year's fare package?
Ken Livingstone: The fares revision is expected to raise an additional £57m pa on the bus network and Croydon Tramlink and £55m pa for the Underground, making £112m pa total.
'Revision' means 'increase' in the TfL dictionary.
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Roger,
I recently asked the Mayor a question about buses. He said income rising £55 million or 5.5%. I also asked him about costs. These are rising £120 million or 8.6%. The combined effect of these changes is that the subsidy paid for buses is going up £65 million or 14%.
Because TfL's costs are way out of control the fares rise is only half the story. On top of the £55 million fares increase we have to pay another £65 million from our taxes too. Double whammy!
Follow link for whole story:
http://philtaylor.org.uk/?p=505
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