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MT fares hike vetoed
Page 20
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• London Regional Transport plans for hefty fare increases have been vetoed by Transport Secretary Cecil Parkinson.
Parkinson has rejected a proposed 15% jump in fares — now LRT will have to pulp thousands of tickets already printed on the assumption that the new fare levels would be accepted.
As a result, fare increases planned for the beginning of January are unlikely to take effect until late February, costing LRT around 25 million a month in lost revenue if Parkinson pegs increases to the rate of inflation.
LRT dismisses the reported delay in rises as "kite-flying" but admits that fare increases this year will be "later than usual". The LRT board will take a decision on the matter "in the next few weeks". 12 The two associations of London boroughs have pro duced a review paper on concessionary fares, calling for the Government to put more money into the scheme.
"This year the scheme topped £100 million for the first time," says Steve Pearce of the London Boroughs Associations (LBA). "Councils were hard pushed to meet that figure — let alone a heavy increase."
The LBA is "pleased that extraordinarily high fare increases seem to have been allayed", he adds. "It's not fair to pass the whole extra cost on to the passenger, who deserves a better service than he is getting at the moment."
The associations' review projects an extra £10 million on the cost of the concessionary scheme next year.