Central London is a particularly suitable city for congestion pricing because of its limited road capacity, heavy travel demand resulting in severe congestion, plus relatively good travel alternatives such as walking, taxi, bus and subway services. Since 17 Feb. 2003 the city of London has charged a fee for driving private automobiles in its central area during weekdays as a way to reduce traffic congestion and raise revenues to fund transport improvements. The program's net revenues will be used to improve public transit services, including more buses and major renovations to the subway system. Some issues of criticism that arose are discussed in the paper such as: business activity, system accuracy, traffic spillover impacts, fairness, pricing efficiency, cost efficiency, loss of privacy. London's experience shows that congestion pricing is technically feasible and effects and that it is possible to overcome the political and institutional resistance to such pricing. The program indicates that private automobile travel is more price sensitive than most experts believed. Better pricing systems are needed to optimize the incentive, with prices that vary depending on the type of vehicle, when, where and how much it is driven.
London congestion pricing - Implications for other cities
CESifo DICE Report ; 3 , 3 ; 17-21
2005
5 Seiten, 2 Tabellen, 19 Quellen
Aufsatz (Zeitschrift)
Englisch
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