Why Ken Livingstone can’t cut fares – in his own words

Its not about profit, its about income coming in ahead of forecast – ie, business plan budgets for say 50 million journeys, but 60 million journeys take place, hey presto you have more money… its quite simple, TFL’s own report stated that passenger numbers are ahead of forecast and that there will be a surplus of several hundred million pounds at the financial year end – Ken says that will be used to fund the fares cut. If you don’t believe me have a look at this. I’ve also seen the same surplus confirmed by a report by Moody’s ratings agency.

Don’t take Ken’s word for it, have a look at the report itself via the download at http://www.kenlivingstone.com/new-london-assembly-transport-committee-report-confirms-huge-336

And in case you are wondering, I do not work for Ken in any way but I am sick of the repeated blatant lies told by Boris Johnson in a desperate attempt to get re-elected.