Wednesday, 21 March 2012

Ken Livingstone's fares cut damned by City

Top City experts delivered a damning verdict on Ken Livingstone's plan to cut fares by seven per cent if he is elected mayor. They claimed Transport for London faces years of financial turmoil and even economic collapse if the cuts go ahead.Ratings agency Moody's, which delivers verdicts on the financial health of organisations, is warning that any fall in TfL revenue could put its credit rating under pressure. Experts warned that could lead to a "downgrade" in its credit rating. Fare cutting could cost £1billion in lost revenue. Check this out - www.notkenagain.com

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