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Boris's all-night Tube will be a financial nightmare, reveals TSSA

16 December 2014

Boris Johnson's all night Tube service will rack up losses of over £100 million before reaching break-even in 18 years time, according to confidential figures.

It will lose £19.6 million in its first full financial year, say LU financial figures disclosed to the three rail unions, TSSA, Aslef and RMT. And losses will continue every year until 2033.

"These figures show that Londoners will be paying a heavy price for Boris's latest vanity project for years to come," said TSSA general secretary Manuel Cortes.

"While he returns to the Commons in 2016, London residents will be paying through the nose yet again with losses of well over £100 million.

"After bringing in the most expensive bus in the world, the £300,000 Boris Bus, he is now leaving us with a rushed through all night Tube service which has not yet been properly worked through in either financial or safety terms."

The Mayor has announced that the new Friday and Saturday night Tube service will start next September as part of his plans to close every Tube ticket office in the capital and axe over 900 jobs. The closures are due to start in February with some staff being re-located to handling passengers on platforms.

The figures disclosed to the unions show that while LU bosses expect revenues from the all night tube to be £8.3 million in its first full year, running costs will be £27.9 million, leaving a £19 million shortfall.

LU will also spend a further £10.9 million on infrastructure and IT before the expected launch in nine months time.

"We still have real concerns about safety on platforms and we would urge the Mayor to delay the start of his wholesale Tube shake up for at least six months to allow those to be worked out before green lighting this project," added the general secretary.

"We must be looking at total losses approaching £150 million by the year 2033 which must make this one of Boris's biggest vanity projects ever," he said.

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