Tolls

Meeting: 
MQT on 2014-10-22
Session date: 
October 22, 2014
Reference: 
2014/3707
Question By: 
John Biggs
Organisation: 
Labour Group
Asked Of: 
The Mayor
Category: 

Question

While it may be valid to use tolls to help underpin the funding of certain projects would you agree with me that it is reasonable that this should be considered as a part of a cocktail of funding options? What steps are you taking to bid for or use other capital resources for Thames River Crossings?

Answer

Answer for Tolls

Answer for Tolls

Answered By: 
The Mayor

TfL is currently consulting on a proposal to charge for the use of Blackwall and Silvertown Tunnels as a way to both manage cross-river traffic demand and also to provide the funding needed for delivering Silvertown Tunnel.  Charging users generates a relatively stable long-term source of funding and supports the principle that those who benefit most from a project should help to pay for the investment. 

Various land value and business rate capture mechanisms are being considered by TfL for crossings east of Silvertown. Funding might also include funding from CIL and other development related sources and/or use of TfL grant funding.

Additional grant from the Government for the Silvertown Crossing is unlikely given the Government's recognition of the potential for charging, but would be pursued for future crossings.