first_img MAYOR of London Boris Johnson yesterday painted the chancellor’s decision to protect the capital’s major transport funding as a triumph, upholding London’s competitiveness as a major economic hub at a time when tax and regulatory changes are hammering the city.Johnson, who has fought a long campaign over the importance of investment in London’s infrastructure, said both the Crossrail project and major upgrades to the Tube have been given the go-ahead, providing a £78bn fillip to the economy.Funding to Transport for London (TfL) from the Department for Transport (DfT) will fall by £2.17bn over the four years of the Spending Review, equivalent to a real-terms cut of 21 per cent. But DfT funds represent only a third of TfL’s budget, alongside fares, borrowing and commercial revenue – meaning the cut to the organisation’s total funding will be around eight per cent.Crossrail’s budget has been slashed by £1bn, meaning that delivery of the project will be delayed by a year to 2018 while efficiencies are found. But it will be delivered in full, including branches off to Heathrow, Maidenhead and other out-of-London destinations, the Mayor said.The Tube upgrade, which with Crossrail will boost network capacity by 30 per cent, is also going ahead, though “cosmetic improvements” to Tube stations have been axed.Concessions have also been protected on the London bus network, with fare increases kept at the level announced at the end of last year.But Johnson conceded that the pain would be felt via a rise in the congestion charge to £10, a reduction in spending on electric vehicles, charging for parking on the TfL road network and a cut in the funding allocation to London boroughs.Tfl, which has already realised £5bn of savings, will also be subjected to a structural review led by transport commissioner Peter Hendy, who will report early next year on how to deliver further efficiency savings. Show Comments ▼ KCS-content whatsapp Wednesday 20 October 2010 8:45 pm Crossrail and Tube spared from savings center_img whatsapp More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definitionthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Share Tags: NULLlast_img