Editing London congestion charge (section)

== Income and costs ==
[[File:London CC 01 2013 5544 highlighted.jpg|thumb|upright|[[CCTV]] cameras used to monitor vehicles entering the congestion charge zone (CCZ) boundary.]]

TfL's annual report for 2017–18 shows that revenues from the congestion charge were £229.8m over the financial year, representing 4.3% of TfL's annual revenues. A quarter of this was spent on the cost of running the toll system, at £57.7&nbsp;million. Once other charges were deducted, the congestion charge brought in an annual operating [[net income]] of £155.9m for TfL.<ref name=TfL201718>{{cite web |url=http://content.tfl.gov.uk/tfl-annual-report-and-statement-of-accounts-2017-18.pdf |title=Annual Report and Statement of Accounts 2017/18 |date=July 2018 |author=[[Transport for London]] |publisher=[[Mayor of London]] |page=208 |access-date=8 May 2019}}</ref> This income compares with TfL's total revenue that year from bus and tube fares of £4.319 billion.<ref name=TfL201718/>

The initial operating revenues from the congestion charge did not reach the levels that were originally expected. Within six months of the start of the scheme, the reduction in traffic had been such that TfL were predicting a £65&nbsp;million revenue shortfall.<ref name="bbc20030612">{{cite news |title=Congestion charge leads to budget shortfall |url=http://news.bbc.co.uk/1/hi/england/london/2985554.stm |work=BBC News |date=12 June 2003 |access-date=6 January 2008 |archive-url=https://web.archive.org/web/20150429070853/http://news.bbc.co.uk/2/hi/uk_news/england/london/2985554.stm |archive-date=29 April 2015 |url-status=live}}</ref>

By law, all surpluses raised must be reinvested into London's transport infrastructure; at the start of the scheme it was anticipated that this would be around £200&nbsp;million.<ref name="bbcannounce">{{cite news |url=http://news.bbc.co.uk/1/hi/uk_politics/1431419.stm |title=Drivers face £5 London toll |work=BBC News |date=7 October 2001 |access-date=26 May 2007 |archive-url=https://web.archive.org/web/20150429071728/http://news.bbc.co.uk/2/hi/uk_news/politics/1431419.stm |archive-date=29 April 2015 |url-status=live}}</ref><ref name="bbcrev">{{cite web |url=https://www.bbc.co.uk/london/content/articles/2006/11/21/congestion_update_feature.shtml |title=Where has the money gone?  |publisher=BBC London |date=19 February 2007 |access-date=26 May 2007}}</ref> According to a report issued in February 2007, the initial costs of setting up the scheme were £161.7&nbsp;million,<ref name="bbcrev" /> with an annual operating cost of about £115m anticipated.<ref>{{cite web |url=http://www.cbi.org.uk/ndbs/Regions.nsf/802737AED3E3420580256706005390AE/E98F7054FD93A6CF80256CCA005B7F58 |publisher=Confederation of British Industry |title=Congestion charging |access-date=20 August 2006 |archive-url=https://web.archive.org/web/20060819082131/http://www.cbi.org.uk/ndbs/regions.nsf/802737aed3e3420580256706005390ae/e98f7054fd93a6cf80256cca005b7f58 <!--Added by H3llBot--> |archive-date=19 August 2006}}</ref> Total revenues over the first three-and-a-half years had been £677.4&nbsp;million, with TfL reporting a surplus over operating costs of £189.7&nbsp;million.<ref name="bbcrev" /> The [[Bow Group]], using TfL data, estimated that by 2007 the project had only returned a modest £10&nbsp;million profit.<ref name="bow"/>

Although Parliament has limited the amount that authorities can borrow, for some time it had been speculated that the regular income obtained from the congestion charge and other revenues could be used to [[Securitization|securitise]] a [[bond issue]] that finances other transport projects across London.<ref>{{cite web| url=http://www.newstatesman.com/200004100065  |title = Rocky road to a smoother journey | work=New Statesman | first = Stephen  | last = Glaister | date = 10 April 2000 | access-date=25 December 2007 |url-status=live |archive-url=https://web.archive.org/web/20110606231810/http://www.newstatesman.com/200004100065 |archive-date=6 June 2011}}</ref> TfL issued their first bond for £200&nbsp;million in 2005, to be repaid at 5% interest over 30 years. TfL plans to borrow £3.1&nbsp;billion more to fund a five-year transport programme across London, including works on London Underground and road safety schemes.<ref>{{cite web |url=http://www.tfl.gov.uk/assets/downloads/businessandpartners/stakeholderjan05v4.pdf |title=Newsletter Issue 8 |date=Spring 2005 |publisher=[[Transport for London]] |access-date=25 December 2007|archive-url = https://web.archive.org/web/20080228180758/http://www.tfl.gov.uk/assets/downloads/businessandpartners/stakeholderjan05v4.pdf |archive-date = 28 February 2008}}</ref>

{| class="wikitable"
|-
!Revenues (£m) provisional
!2004/5<ref name=tfljune2005/>
!2005/6<ref name="tfljune2006" />
!2006/7<ref name="tfljune2007" />
!2007/8<ref name="tfl2008">{{cite web|last1=TFL|title=Congestion Charging in Central London, Impacts Monitoring Sixth Annual Report|url=https://tfl.gov.uk/cdn/static/cms/documents/central-london-congestion-charging-impacts-monitoring-sixth-annual-report.pdf|website=Transport for London|access-date=30 October 2017}}</ref>
!2008/9<ref>{{cite web|url=http://content.tfl.gov.uk/annual-report-and-statement-of-accounts-2008-09.pdf|title=Annual Report and Statement of Accounts 2008/2009|website=Transport for London|access-date=18 January 2018}}</ref>
!2009/10<ref name="TFL10/11">{{cite web|last1=TFL|title=Annual Report 2010/11|url=http://content.tfl.gov.uk/annual-report-2010-11.pdf|website=Transport for London|access-date=30 October 2017}}</ref>
!2010/11<ref name="TFL10/11" />
!2011/12<ref name=tfl2012_13>{{cite web|url=https://www.tfl.gov.uk/cdn/static/cms/documents/annual-report-and-statement-of-accounts-2013.pdf |title=Annual Report and Statement of Accounts |publisher=[[Transport for London]] |access-date=15 February 2015 |archive-url=https://web.archive.org/web/20150429071930/https://www.tfl.gov.uk/cdn/static/cms/documents/annual-report-and-statement-of-accounts-2013.pdf |archive-date=29 April 2015 |url-status=live}}</ref>
!2012/13<ref name=tfl2012_13 />
!2013/14<ref name=TfL201415>{{cite web |url=http://content.tfl.gov.uk/annual-report-2014-15.pdf |title=Annual Report and Statement of Accounts 2014/15 |date=April 2015 |author=[[Transport for London]] |publisher=[[Mayor of London]] |page=143 |access-date=27 December 2015}}</ref>
!2014/15<ref name=TfL201415 />
!2015/16<ref name="tfl16/17" >{{cite web|last1=TFL|title=tfl-annual-report-and-statement-of-accounts-2016-17|url=http://content.tfl.gov.uk/tfl-annual-report-and-statement-of-accounts-2016-17.pdf|website=Transport for London|access-date=30 October 2017}}</ref>
!2016/17<ref name="tfl16/17" />
!2017/2018<ref>{{Cite web|title=TfL Annual Report and Statement of Accounts 2017-18|url=https://tfl.gov.uk/cdn/static/cms/documents/tfl-annual-report-and-statement-of-accounts-2017-18.pdf|website=Transport for London|access-date=21 May 2020}}</ref>
!2018/2019<ref>{{Cite web|title=TfL Annual Report and Statement of Accounts 2018-19|url=https://tfl.gov.uk/cdn/static/cms/documents/tfl-annual-report-and-statement-of-accounts-2018-19.pdf|website=Transport for London|access-date=21 May 2020}}</ref>
|-
|Standard daily vehicle charges (currently £15)
|98
|121
|125
|146
| colspan="11" |not available
|-
|Enforcement income
|72
|65
|55
|73
| colspan="11" |not available
|-
|Fleet vehicle daily charges (currently £10.5)
|17
|19
|27
|37
| colspan="11" |not available
|-
|Resident vehicles (currently daily £1.05)
|2
|2
|6
|12
| colspan="11" |not available
|-
|Other income
|
|2
|
|
| colspan="11" |not available
|-
|'''Total revenues'''
|190
|210
|213
|268
|325.7
|312.6
|286.5
|226.7
|222.0
|234.6
|257.4
|258.4
|249.6
|229.8
|229.9
|-
|Total operation and administration costs
|(92)
|(88)
|(90)
|(131)
|(168.5)
|(178.3)
|(113)
|(89.9)
|(89.9)
|(85.4)
|(84.9)
|(90.1)
|(85.7)
|(73.9)
|(83.2)
|-
|'''Net revenues'''
|97
|122
|123
|137
|148.5
|158.1
|173.5
|136.8
|132.1
|149.2
|172.5
|168.3
|163.9
|155.9
|146.7
|}

{{update|date=May 2016}}

{| class="wikitable"
|-
! Expenditure (% of operating revenue)
!2004–5<ref name=tfljune2005 />
!2006–7<ref name="tfljune2007" />
|-
|Bus network improvements (incl. vehicles, garages & shelters)
|80%
|82%
|-
|Road and bridge maintenance & upgrades
|
|11%
|-
|Road safety (incl. research & campaigns)
|11%
|4%
|-
|Walking & cycling programmes & publicity
|6%
|2.5%
|-
|Distribution and freight (incl. review of a London lorry ban)
|1%
|
|-
|"Safer routes to schools" initiative
|2%
|
|}

From the scheme's introduction in 2003 until December 2013, gross revenue reached about £2.6&nbsp;billion,<ref>{{cite news|url=https://www.standard.co.uk/news/transport/congestion-charge-has-cost-drivers-26bn-in-decade-but-failed-to-cut-traffic-jams-8496627.html |title=Congestion Charge 'has cost drivers £2.6bn in decade but failed to cut traffic jams' |author=Ross Lydall |work=[[London Evening Standard]]|date=15 February 2013|access-date=15 February 2015 |archive-url=https://web.archive.org/web/20150429072347/http://www.standard.co.uk/news/transport/congestion-charge-has-cost-drivers-26bn-in-decade-but-failed-to-cut-traffic-jams-8496627.html |archive-date=29 April 2015 |url-status=live}}</ref> of which, over £1.2&nbsp;billion (46%) has been invested in transport, including £960&nbsp;million on improvements to the bus network; £102&nbsp;million on roads and bridges; £70&nbsp;million on road safety; £51&nbsp;million on local transport/borough plans; and £36&nbsp;million on sustainable transport and the environment.<ref>{{cite web|url=http://www.tfl.gov.uk/info-for/media/press-releases/2014/january/views-sought-on-proposed-changes-to-congestion-charging-scheme |title=Views sought on proposed changes to Congestion Charging scheme|publisher=Transport for London |date=6 January 2014 |access-date=15 February 2015 |archive-url=https://web.archive.org/web/20150429072133/http://www.tfl.gov.uk/info-for/media/press-releases/2014/january/views-sought-on-proposed-changes-to-congestion-charging-scheme |archive-date=29 April 2015 |url-status=live}}</ref>