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- Title
PAYING FOR CROSSRAIL: THE BUSINESS CASE.
- Authors
Schabas, Michael
- Abstract
A new railway is being planned across London. Incremental fares revenue will only pay about a quarter of the£10 billionexpected cost, so the Greater London Assembly (GLA) is considering‘alternative funding mechanisms’. These include new taxes on businesses that are presumed to benefit from the scheme. Taxes would deter the very investment Crossrail is supposed to support. The GLA would do better to change the scheme to reduce the need for subsidy and strengthen the business case.
- Subjects
LONDON (England); ENGLAND; REVENUE; PUBLIC finance; INVESTMENTS; FINANCE
- Publication
Economic Affairs, 2005, Vol 25, Issue 1, p12
- ISSN
0265-0665
- Publication type
Article
- DOI
10.1111/j.1468-0270.2005.00537.x