Today ConservativeHome has published some in-depth analysis from me on Transport for London and its finances. The highlights are:
- In five years Transport for London has consumed £12 billion in subsidy but £8 billion of this has been wasted supporting TfL’s bloated cost base.
- TfL has a structural deficit of £1.6 billion per annum which it can’t seem to solve in spite of ramping up fares.
- In three years highly paid managers have more than trebled at TfL from 450 in 2004 to 1,441 in 2007.
- TfL loses 30p every time someone takes a bus.
- TfL loses 55p every time someone takes a Tube.
Follow this link for the whole thing.