Leicester Transport Free of Debt
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L'OR the , first time in its history, I Leicester Transport Department is free of debt. Accounts for the past year show a surplus of £72,905, out of which £41,010 was absorbed by buying new buses and other capital equipment.
The transport committee have recommended that £10,767 of the remaining £31,895 should be used to clear off all outstanding debts, and that the rest of the money should go into the reserve fund.
In a report presented to the City Courieil last week the committee said: "If this success had been gained only by charging unreasonable fares we could feel little gratification. This is certainly not so."
A serious fall in traffic was reported, however, mainly due to fare increases. The num be r of passengers carried dropped by nearly 5m, to 90,172,000— almost as great a fall in one year as in the previous six years. It is suggestefl that any further increases in revenue should be made by pruning service.i rather than adjusting fares again.