In a letter to Westminster Council, TfL seriously revised downwards its estimate of the revenue to be raised from congestion charging.
Mayor of London Ken Livingstone claimed that the charging scheme would raise £200 million a year to invest in public transport across central London, but in its letter to Westminster Council, TfL said it now expects congestion charging to raise £628 million over the first five years.
The TfL letter also indicates that it is impossible to quantify the costs of implementing the scheme. This has raised fears that the daily congestion charge will have to rise substantially.
Westminster Council's deputy leader Councillor Kit Malthouse, said: 'The financial viability of this whole scheme is seriously under question. How can we be assured the £5 traffic charge will not escalate to £10 in the long run? There are too many questions left unanswered.'