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The impact of London congestion charge,an economic view - Literature review Example
This paper talks about economic effects from the introduction of the congestion charge in London. In order to solve problems of the traffic congestion and air pollution, the revolution in London's transport system began on 17 February 2003; the mayor of London introduced the congestion charge…
This paper offers a thorough analysis of the all-round impacts of the imposition of congestion charge in London. Not only economic, but also social and environmental impact is considered. The paper attempt to provide how the congestion charge assist in improving environment. It also evaluates the impact on unemployment changes facilitated by charging.
One of the main aspects of transportation in London that was intended to be improved by the congestion charge was the economics. There is evidence that there has been a positive economic effect seen by introducing the charge, with an estimated 90% of pre-charge congestion costs being eliminated by profits. However, despite this, the actual implementation and running costs of the congestion charge have been suggestibly much higher than the benefit.
In terms of the environment, there were significant reductions in traffic flows within the congestion zone area between 2003 and 2006.
There are many different approaches to the congestion charge and how it has had an effect on London from an economic standpoint. These have all given various different results within the literature, although these are partly dependent on the methodologies used and the time periods examined. One of the main issues that can come from assessing a project like the congestion charge is that it will be evaluated in the short-term, and there may be additional costs or benefits to be seen within the medium- or long-term which cannot be assessed by current results.