One of the biggest difficulties we face when trying to improve public
transport is finance.
A London property developer, Don Riley, in his book "Taken for a Ride", has
estimated that the Jubilee Underground Line extension in South and East
London has raised land values by £13 billion within 1 km radius around the
ten new stations on the line.
The line only cost £3.5bn to build.
If this value were collected by means of a Location Benefit Levy then there
would have been enough income to pay for three new lines without any
resource to taxes on trade or higher fares.
Happy to send more information personally to anyone requesting it.
Dave
Dave Wetzel
Vice-Chair
Transport for London
42-50 Victoria Street. London.
SW1H 0TL. UK
Tel: 020 7941 4200
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