TfL (Supplementary) [6]

Session date: 
December 15, 2004
Question By: 
Roger Evans
GLA Conservatives
Asked Of: 
The Mayor


We know the record the Liberals have in that respect, Mr Mayor, but why did you not publish your fare proposals before the election?

Supplementary To: 


Answer for TfL (Supplementary) [6]

Answer for TfL (Supplementary) [6]

Answered By: 
The Mayor

I never believed that the Government would decide that of all the local authorities in Britain, I could be the one and the only one to issue bonds. If I had sat here a month before the last election and said, `Do not worry. After the general election, Gordon Brown's (Chancellor of the Exchequer) Treasury will personally make me the first local authority figure in British history ' or certainly, in post-War history ' to have the freedom to issue a bond,' you would have died laughing, and I would not have believed it myself, and I almost fell into my swimming pool ' because I was on holiday when I heard the news ' when Jay Walder (Managing Director of Finance and Planning, TfL) said, `The Government is going to give us the permission to borrow.'