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LTB bid by GLC to avoid London PTA?
Page 48
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BY DEREK MOSES
THE Tory-controlled Greater London Council may, I understand, take over the State-controlled London Transport Board after all. This measure, approved by the former Labour-controlled GLC, was rejected when the Tories first gained control in April. A spokesman for the GLC admitted this week that talks on the possibility of a takeover are taking place.
I am told it was Mrs. Barbara Castle's wish that the GLC should, through its ratepayers, become responsible for any losses incurred by the Board. At present the deficit incurred by London Transport is being met by a State subsidy.
The Tories are not prepared to saddle the ratepayers with such a burden, but an alternative plan which has been put forward would lead to the GLC taking over London Transport after the outstanding debt was cleared by Central Government, and then being responsible for fixing of fares and financial policy from that point.
The day-to-day management of London Transport would remain largely in the same hands as at present, although the GLC would have the power to appoint members to the Board, and be able to take over-riding policy decisions.
• GLASGOW CORPORATION'S transport department ended its financial year with a net deficit of £289,993. (Last year: £160,370 surplus.) Revenue was £11,041,929 and of this £10,155,153 came from buses, which had a surplus of £28,759, compared with a surplus of £406,153 in the previous year.