Appendix 9 - Congestion Charge

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On 17 February 2003 congestion charging was introduced in central London at a daily rate of £5 per car or goods vehicle. Due to one-off startup costs there were no net proceeds, calculated as follows, available for approved transport projects.

Congestion charging	2002/03£m
Revenue	18.5
Expenditure - toll facilities - traffic management	(58.2) (4.2)
Deferred charges	(14.0)
Depreciation	(0.3)
Capital financing charges	(0.1)
Interest	-
Net expenditure	(58.3)

Reconciliation of net operating expenditure to net cash outflow from operating activities (year ended 31 March)	2002/03£m	2001/02£m
Net cost of services	(1,033.3)	(780.6)
Losses of joint venture company before grant	(12.6)	(3.0)
Depreciation net of release of deferred grants	135.3	104.2
Capital financing charges	126.8	122.6
Decrease/(increase) in stocks	0.9	(0.2)
Decrease/(increase) in debtors	(29.7)	21.0
Increase in creditors due within one year	35.7	36.0
Increase in creditors due after more than one year	-	0.4
Increase in provisions for liabilities and charges	4.0	0.2
Net cash outflow from operating activities	(772.9)	(499.4)

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Appendix 9 - Congestion Charge

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