Record surplus for Leicester
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• At a time when many municipal bus undertakings are in the red, Leicester City Transport made a surplus of £236,273 during the year ended March 31 1969. This is the largest surplus in the history of the undertaking.
Giving the news to the city's transport committee last week, the chairman, Cllr. Terence Harris said: "We have had a remarkably good year, particularly when you compare the Leicester results with those of other municipalities in the Midlands. The surplus is even more remarkable when it is appreciated that we paid out £70,000 in back pay last December to meet the pay claim held up by the PIS."
Dlr. Harris said that despite increased operating costs, there would be no increase in fares during the next 12 months. The last increase was in January 1968 and Leicester was one of only three places in the country which still had a 2d fare, he claimed.
He added that the surplus was required as a cushion against further increases in costs including the latest wage award and the purchase of buses. When vehicles at present on order were delivered later this year Leicester's 205-strong fleet would not contain any buses more than 12 years' old.