Yes, Francis' sums were some way off: LBH estimated that just to cover the construction, let alone the maintenance, they needed to raise £7.5m a year from tolls (based on 5.8% interest and 3.2% minimum revenue provision on a £83m loan over 25 years). That could be funded for a £2.60 charge each way for 8000 crossings a day which would leave £0.65 for maintenance, operations and any profit in LBH's benchmark £3.25 toll.Traffic on Chiswick and Putney Bridge is still below preclosure levels, so for a return toll of £6.50 a day it's already not obvious that the demand is still there. If tolls were used to pay the full whack of the estimated £250m, then they'd be even fewer takers at close to £10 each way. Tolls would have to fund the full amount if the current government continues to let the clock run down, now just to the end of March, on its commitment to pay two-thirds for the bridge costs. And evidently Francis no longer thinks Labour will be backing the bridge to topple Greg Hands. It would be good to see the roadway opened up to cyclists this year - that was originally supposed to happen in 2022!
Tom Pike ● 1019d