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Dip to give LRT £500m
Page 8
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• London Regional Transport will receive some 2500m in Government grants in the corn ing year now that Transport Secretary Cecil Parkinson has backed down from the controversial road schemes for the capital.
LRT's business plan shows a total investment of 2560m in London's public transport; up 23% on last year. The move will create 850 new jobs.
But further fare increases for London travellers have not been ruled out by LRT, although the capital already pays the second-highest fares in Europe, topped only by Stockholm. LRT predicts a revenue deficit of 216m in the coming financial year. Parkinson has confirmed that he will go ahead with priority "red routes" for London, beginning with a pilot scheme from the Al at Highgate to the A13 in East London. Penalties for red-route offenders have yet to be decided. A traffic director will be appointed to co-ordinate the new London traffic offensive.
But Road Haulage Association director-general Bryan Colley has attacked the decision to shelve the original road schemes. It will be "an enormous cost to industry", he says, and will leave a "planning vacuum".