LondonNet News Headlines
|Tube Price Rise Fear
- PPP would cost more, says new report
HUGE Tube fare rises have been predicted by influential transport experts if the Government gets its way and introduces the much-criticised Public Private Partnership (PPP).
University College of London (UCL) researchers say there will be a shortfall of some UKP175 million a year under the PPP scheme which aims to use private money and management to revamp London Underground. The only way UCL can see of making good the gap is through fare rises, road pricing or other taxes.
The report represents another coup for London Mayor hopeful Ken Livingstone who has long argued against PPP and its proponents in the Labour Party leadership, most notably Prime Minister Tony Blair. Livingstone will also take heart from the fact that UCL back his own bond issue method as the cheapest way to raise the UKP1.5 million needed to update London's aging metro network.