Magazine article Public Finance

London's Transport Model Should Be Extended to Other Cities

Magazine article Public Finance

London's Transport Model Should Be Extended to Other Cities

Article excerpt

Local government should seize the opportunity offered by the Lyons Inquiry and push for a model of local transport funding akin to that developed by Transport for London, the Local Government Association is proposing.

A discussion paper, published on May 30, argues that 'there is no reason why other cities could not benefit from a similar political solution' to that in London, with the establishment in 2000 of the Greater London Authority.

Transport for London was able to invest in the expansion of London's underground, tram and bridge infrastructure through the use of bond finance, secured against a mixture of public subsidies and fare revenues.

Improving local transport calls for similar transport authorities to be set up elsewhere and for them to have additional revenue streams such as local income tax, which could be combined with income from parking levies to help finance loans in a similar manner. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.