May 1, 2008Almost five years ago, I argued that London's Congestion Charge was merely a wealth transfer from London commuters to the administrators of the charge. You know what? I was right:
What about congestion? TFL's...
Capita, the company that set up the system and operated it for the Mayor, was said to have been given a £250 million contract over five years, but the Mayor refused to reveal the details. Then it emerged an extra £31 million was paid to Capita in the first year, raising concerns that costs would reduce revenues promised by the Mayor. Last year Capita was paid £130 million, more than 60 per cent of the money taken in by the charge over the year.