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'Wasteful' subsidies
Page 26
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PUBLIC TRANSPORT subsid are wasteful and counter-p ductive and help no one in 1 long run, according to Grea London Council leader Sir I race Cutler.
Addressing an internatiol conference in Munich last we he said: "I can think of nothi so demoralising to operators passengers alike as the subsid ing of inefficiency. That is not say that elected authoriti should not decide to prom( and pay for some specific nc commercial services. But, as whole, public transport must run commercially."
Defending London Transpor low-subsidy policy, Sir Flora said: "Already financial suppr for the running costs of trar port in London is at a lower le\ than most European capita This is not something I wou wish to hide. I believe our a proach is the right one."
But Sir Horace went on to s. that investment in capital pr jects should go on, even at time of recession. "Continuir capital investment is essential we are to maintain or increai the attractiveness of publ transport.
"I believe it is economic mal ness to continue operating ul economic systems using OL dated stock."