Current Releases
Press Releases
MAYOR SHOULD CREATE 'JAM-BUSTERS' TASKFORCE TO RAISE NEW TRANSPORT CASH
04 April 2000
The London Mayor should create a powerful 'jam-busters' taskforce to funnel private cash into a new transport trust fund, according to a report from the Institute for Public Policy Research, Britain's leading centre-left think tank.
The report argues that, unless action is taken, the Mayor could become too dependent on central government grants and borrowing rules. To counter this the Mayor must initiate a strategy for raising independent finance to improve the capital's transport
IPPR recommends a new 'Transport for London Trust' to raise private finance for transport projects. As a private sector body, it would be able to raise finance and issue bonds, without the approval of central government.
The board of the trust would be appointed by the Mayor and would include representatives from business, transport experts and community leaders.
Revenues from congestion and workplace charges, hypothecated fuel duties and a new road works tax could be channelled through the trust. Money could be used for a balance of major infrastructure projects and smaller community schemes.
The trust would bring together many new sources of revenue for the Mayor including:
- Congestion charging. A £5 a day charge for cars entering central London would cut traffic by 10% and raise £250million a year. If £100million of this a year was channelled through the new Trust it would support a private bond worth £1.2 billion (at 7.5% rates interest for 30 years).
- Street-works tax on Utilities. Government proposals could mean £1,000 a day levy for late works on 'traffic sensitive' roads. IPPR's report suggest going further by introducing lane rental for the whole duration of street works reflecting the full economic costs of delays.
- A London business levy. Government plans for local business rates should apply to the Greater London Authority. London's businesses could vote on the Mayor's proposals for extra transport investment, paid for by a levy of up to 5% on business rates. This would have raised £130million for London if applied this year.
- A share of hypothecated fuel duty. The government has promised that any future above inflation increases in fuel duty should be ringfenced for transport spending. This would net London £30million per year for each 1% increase.
A Transport Agenda for London by Tony Grayling and Rob King sets out a 10-year plan to dramatically improve the London's transport. As well as financing arrangements, the report makes other important recommendations for the capital, including:
- 20mph speed limit in central London and residential areas across the capital
- Pedestrianisation of Parliament and Trafalgar Squares
- Metro style rail services for South London
- 70p flat bus fare and pegging tube fares to inflation
- Free travel for children and a youth smartcard
- Complete London and local cycle networks and an extensive network of priority bus routes
On the Tube, IPPR argues that both the Public Private Partnership and a bond financed underground would need continued public subsidy. The authors recommend that the PPP should be subject to the independent scrutiny of the National Audit Office, to ensure a fair comparison with the best public sector alternative.
The report will be launched at a high profile debate with the four main Mayoral candidates on Tuesday 4th April at the Design Council. Candidates will be asked to comment upon the IPPR's proposals as well as outlining their own policies for improving London's transport.
Tony Grayling, co-author of the report said:
'If the new Mayor is going to successfully solve London's transport problems, they must have greater control over spending, including access to new cash. IPPR proposals would give the Mayor millions more to invest in transport and help achieve a step-change in the quality of London's transport system.'
The IPPR London Transport Debate
The Design Council, 34 Bow Street, London WC2E 7DL
TUESDAY 4TH APRIL 2000: 9.00AM-11.30AM: Media invited
Frank Dobson MP, Susan Kramer,
Ken Livingstone MP, Steven Norris
follow us on twitter:
ippr in the news:
Immigration cap will devastate UK companies, employers fear
The Observer - 22 August
A-level results: Who needs university?
Daily Telegraph - 19 August
When becoming a mother just isn't part of your life plan
The Daily Mirror - 19 August
Fall in number of NEET youths, official figures show
BBC News Online - 18 August
One in ten with A-levels or degree is a Neet
Telegraph - 18 August
School leavers without qualifications 'ending up on scrapheap', says study
Metro - 18 August
Rise of the middle class NEET
Daily Mail - 18 August
More miss training after taking A-levels
Yorkshire Post - 18 August
'NEET' numbers up by 40%
BIG ON Glasgow - 17 August
Immigrants cause job losses? Like ice-cream brings sharks
Guardian - 16 August
Hatred and slavery...is that really enough to kick-start the economy? Suzanne Moore on unpaid interns
Daily Mail - 14 August
Fresh push to rate community pub value
Morning Advertiser - 6 August
Employers offering unpaid internships could risk tribunals
Workplace Law Network - 2 August
Employers are breaking the law by not paying interns, says report
City A.M. - 2 August
Employers breaking the law on unpaid internships, report claims
Personnel Today - 1 August
Interns are 'entitled to be paid' says report
BBC News Online - 31 July
Minister for Universities and Science David Willetts on ippr's report into unpaid internships
7th Space Interactive - 31 July
Employers warned that unpaid internships could 'break law'
Telegraph - 31 July
Iain Duncan Smith's welfare reform deserves support
Guardian Comment is Free - 30 July
Tax credits and benefits could be replaced with 'negative income tax' under shake-up
Telegraph - 30 July
ippr's Sarah Mulley on the immigration cap on BBC News Online
BBC News Online - 29 July
Home Office's refugee removal policy 'unlawful'
Independent - 27 July
More carrots and fewer sticks will make a greener world
Yorkshire Post - 27 July
'Big Society' needs formal framework to succeed, IPPR says
Regeneration and Renewal - 21 July
Iain Duncan Smith at loggerheads with Treasury over benefit cuts
Observer - 18 July
Cap on skilled immigrants may hit recovery, businesses warn
Observer - 18 July
ippr visits Rwanda's first think tank
Govmonitor - 18 July
Discomforting bankers
Telegraph - 16 July
Lisa Harker and Carey Oppenheim on what improved under New Labour and what still needs to be done
Public Finance - 16 July
John McTernan's blog predicts Health Secretary Andrew Lansley's policy on childhood obesity will fail
Telegraph - 9 July
Study highlights Big Society's 'rhetoric and reality gap'
New Start - 1 July
Latest Reports:
Migration Statistics, August 2010
Latest research on NEETs
Immigration and Employment
Now It's Personal
Learning from welfare-to-work advisers from around the world >
Why Interns Need a Fair Wage
A briefing from ippr and Internocracy >
Regeneration Through Co-operation
Creating a framework for communities to act together >
Global Brit


ippr podcasts >
RSS feeds >