Just in case you had any scintilla of a notion that the Mayor’s Â£3 million a year not-so-freesheet, The Londoner, had any relationship whatsoever to news the Mayor will have completely destroyed that idea this month by ensuring that it has had the same headline for two months running.
I exaggerate maybe, not quite the same:
August: Bus fares to be cut by ten percent
September: Bus fares down by 10% from the end of September
One reason that TfL is in such a poor financial position is that it has to give the Mayor Â£1.5 million a year to pay for this rubbish.
After last month’s frankly untruthful statement that:
I am pleased that the strength of Londonâ€™s economy, and efficiencies achieved by Transport for London, mean that fares can now be reduced with no cut in this investment programme or financial risk to the transport budget. This economic strength and operating efficiency creates benefits that should be returned to London.
this month the Mayor repeats the porky:
The reduction in fares has been made possible by London’s economic growth which has meant that fares income is more than expected.
Last month I published a letter from the Mayor himself that showed that this cut was unaffordable. Click to enlarge his letter below:
TfL’s own annual report and accounts underline the unaffordability of this move, see below (click to enlarge).