The GLA Conservatives has reaffirmed its support for Tube sponsorship, claiming that private companies could be used to fund major improvements to the network.
A new report ‘Sealing the Deal: TfL sponsorship feasibility study‘ by Conservative London Assembly member Gareth Bacon suggests that allowing companies to sponsor Tube stations could help pay for things like 4G, water fountains, TV screens and toilets.
The GLA Conservatives began talking up the benefits of sponsorship in June when it published another report that saw private-sector investment as a way of funding a freeze on ticket prices for passengers.
In the new report, Bacon questions Transport for London’s (TfL) estimated £4 million cost for renaming a Zone 1 Tube station – a far cry from the £8,500 cost of changing signage at Blackfriars between 2009 and 2012.
Launching the new report, Gareth Bacon said: “As the Mayor is about to make another announcement on fare increases, it is time he forced TfL to seriously consider costed and realistic ways to bear down on passenger fares.
“In addition to helping curb fares, tube sponsorship can help revolutionise the tube system for Londoners. More so, it is ludicrous that TfL is currently splashing out millions of pounds of taxpayers’ money on expensive projects without even considering bringing in the private sector to help foot the bill.”
