Newcastle needs more revenue
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PRESENTING his annual report to New castle Upon Tyne transport committee, Mr. F. S. Taylor, general manager of the Corporation bus undertaking, said that although profits during the past year had increased to £233,000, the margin had again fallen to a dangerously low level since April. This was because they had felt the full impact of the 40-hour week and the service bonus.
Mr.. Taylor said that the balance in the general reserve account was insufficient to meet fleet renewals in 1966-7 and unless steps were taken to bring about a substantial rise in revenue, they would have to revert to capital borrowing at high rates of interest.
The report stated that the number of passengers carried was 138,420,000 against 164,000,000 five years ago. In the same period the number of private car registrations in the city rose from 27,000 to 32,000.