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London Set to Raise Council Tax to Avert Transit System Collapse

London Bets $1.5 Billion Tube Extension Will Spur Jobs, Business
Photographer: Chris Ratcliffe/Bloomberg

Londoners are poised to have to pay an extra 20 pounds ($26) a year in tax over the next three years as talks to secure a bailout of the capital’s pandemic-hit public transit system falter.

In a statement on Wednesday, Mayor of London Sadiq Khan said the government is “holding London to ransom,” by refusing to give more funding to Transport for London, whose finances were battered by a sharp decline in passenger numbers during the pandemic.