Prices team look at LT
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LONDON Transport is to be investigated by the Prices Commission, which is unhappy about its latest application to increase fares.
But an IT spokesman told CM last week that it will be applying to use safeguard clauses in the procedures if the investigation is not completed by June 18 and go ahead with the rises.
Commission chairman Charles Williams has said that he thinks the investigation will prove "very valuable" and will show the underlying cost structure of LT and the reasons that transport costs so much in the capital.
The LT spokesman said that the executive had had some contact with the commission and that the investigation was not a surprise.
"It was bound to come — I suppose it was our turn," he said.
IT has applied to put fares up on both buses and tubes by 9.2 per cent for buses and 10.2 per cent for trains.