Simon Jenkins writes in The Standard today about idiocy of ring fencing parking revenues.
Left: Top journalist and conservationist slams Exhibition Road
Below is his rationale. Interestingly, he alights on the 'groundnut scheme' that is Exhibition Rd: an example of what goes wrong when councils have too much money to squander on ego driven schemes. Cockell came up with some ludicrous justifications for spending the £40 million(Jenkins underestimated the cost) but in reality it was just a chance councillors to 'show off' using taxpayers' hard earned money.
Just think how £40 million could have been used to help residents in a practical way.....
"There is a hitch. Money raised from roads and transport can be spent only on roads and transport. One reason why every street in central London is continually being dug up, to the fury of users and the mystification of foreigners, is that London boroughs have massive sums to squander on redoing pavements. The Exhibition Road project in Kensington, a decade old and three years in the building, has consumed £25 million on repaving and relighting, and is still cluttered with signs and bike racks. It is a meadow which building contractors can graze for ever."