London charge 'raised too little'
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THE LONDON congestion charge is a "financial disaster" which is impacting heavily on businesses in the capital, according to conservative mayoral candidate Steve Norris.
Figures taken from internal Transport for London (TfL) documents and released by Norris show that the toll will raise just £6m this year, a tiny fraction of the £121m forecast by London mayor Ken Livingstone in February.
This massive reduction has been blamed on more drivers than expected being deterred from entering central London.The running costs involved also appear to be a lot higher than first thought. TfL has admitted higher than anticipated costs in this year's budget linked directly to the charge, including £10m in set-up costs needed to expand the charging zone west into Chelsea.
Norris says: "We have always known that Mayor Livingstone is no financial wizard. But no-one ever expected that he would fail to make money from charging motorists to enter the city centre."
But TfL describes Norris' figures as "complete nonsense". A spokesman says: "As far as we have seen, it includes more than an element of double accounting. TfL stands by its revised estimate of £66m in 2003/4."