TfL’s highly paid managers cannot run a tax system let alone a transport system. Robber Livingstone put up the Congestion Charge to £8 in February but the idiots have wasted the cash on running costs. Their margins have gone down from 44.2% to 41.8% in spite of the extra income. The extra £3 a day motorists are paying is not funding public transport improvements as Livingstone’s disingenuous ads are suggesting. No, instead it has just vanished in costs. Income up 17%, costs up 19%, surplus up a mere 10%.
This is a terribly inefficient way of turning our money into things that we actually want.