Sadiq Khan: I'll fund four-year fare freeze by scrapping vanity projects

Sadiq Khan wants to freeze fares for four years
Pippa Crerar4 January 2016

Sadiq Khan today pledged to fund his four-year fares freeze by ditching “expensive vanity projects” such as Boris Johnson’s Thames cable car.

Labour’s mayoral candidate claimed he would make “tough decisions” about where the axe would fall to raise the £450 million needed for his fares policy.

He would also boost Transport for London’s income by allowing it to bid to run bus, Tube and train networks in other British cities and around the world.

It came as thousands of Londoners returning to work after the Christmas break saw the cost of their journey going up by one per cent.

Mr Khan said: “The Tories have put fares up year after year and today is no exception. A fares freeze is absolutely affordable but I want to be totally honest with Londoners - it will mean taking some difficult decisions.”

Senior TfL figures are wary about any reduction in planned income as it could affect future investment plans and transport chief Mike Brown has warned mayoral candidates he will make the case against them “loudly and clearly”.

Tory candidate Zac Goldsmith, who has said only that he wants to “bear down” on fares, said: “We know that demand for TfL services will continue to soar, and that we need to grow the network to unlock land to build new homes.

“Sadiq Khan says he will find savings, but everyone knows these will be bitterly opposed by the unions who fund his campaign.”

Mr Khan’s decision to scrap public funding of the Emirates cable car - one of Mr Johnson’s flagship transport projects - as soon as the contract ends could result in its closure. However, there was some doubt over projected savings as TfL would have to pay to get out of the deal.

He also pledged to freeze further purchases of new Routemaster buses, which have been criticised for being too pricey and not green enough.

The Labour hopeful said he would raise additional funds by halving the £383 million a year spent by TfL on agency staff and consultants, cutting down on £61 million a year fare evasion, and merging engineering on the Tube and Overground.

He would also boost revenues by building more homes on TfL land and bolstering the transport body’s commercial arm - selling its expertise in engineering and operations around the world and ploughing the profits back into the capital.

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