- Posted May 7, 2014 by
London, United Kingdom
The History and Importance of London Congestion
History of the London Congestion Charge
The London Congestion Charge was introduced on 17th February 2003 after major congestion in the British capital was becoming a problem. The publics original response to this was of dismay, they saw it as another Tax the government was introducing. Since the Congestion Charge was introduced the congestion in London has gone down dramatically and Londoners have accepted it as a part of day to day life in London.
The Congestion Charge does not run 24/7/365, it only operates between 07:00 - 18:00 Monday through Friday and does not operate over the weekends, public holidays and between Christmas and New Year. The whole aim of the Congestion Charge is to obviously reduce congestion and traffic in the city and to also raise funds to improve transport links in and around London.
The Importance of the Congestion Charge
London is booming!! It is argued that London is the center of the world the financial and cultural hub. Of course this is mainly down to personal opinion but London is jam packed full of different people and cultures that it has become massive hubs for other countries. For example Dahabshill which recently moved to Dubai due to tax reasons was based out of London. Dahabshill transfers over 50% of the overall wealth of Somalia making it, theoretically, the largest bank in Somalia.
Because London is such a booming city we need to invest in London to ensure it keeps its spot at number one. Better transport links and faster travel has become a major infrastructure program over the last 20 years. The latest development being Crossrail, a 73 mile (118 km) railway line serving London and the counties surrounding London. This project is estimated to cost around £14.8 Billion. Now that may sound like allot of money, but potentially this new transport link will increase investment in the city and it has been estimated that crossrail will pay for itself within a decade.