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U.T.A. Face Deficit— Despite Fares Rise
2nd November 1962, Page 55
2nd November 1962
Page 55
Page 55, 2nd November 1962
— U.T.A. Face Deficit— Despite Fares Rise
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THE Northern Ireland Transport Tribunal, which last week confirmed the U.T.A.'s increased fares and charges, was told by Mr, Cyril Nicholson, Q.C:, that the increases were expected to bring in an additional £280,000 towards estimated increased costs of 1400,000.
This would still leave the Authority with a deficit in the working year of £601,000.
This year the Government had written off:the accumulated debt from, the railways of 110,000,000, and it had been thought this would give the Authority a fresh start. In fact they were left in exactly the same position, faced with an annual railway loss in the order of £600,000.
Both Mr. Nicholson and Mr. Flanagan hinted that further increases in fares might be on the way.