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|Title: ||The role of hypothecation in financing transit: lessons from the UK|
|Authors: ||Enoch, Marcus P.|
Ison, Stephen G.
Humphreys, Ian M.
|Issue Date: ||2004|
|Publisher: ||© National Academy of Sciences (USA)|
|Citation: ||ENOCH, M.P.....et al, 2004. The role of hypothecation in financing transit: lessons from the UK. Transportation research record. Transportation finance, economics, and economic development, 1864, pp. 31-37|
|Abstract: ||Two hypothecated charges to fund local public transport have recently passed
onto the statute books in the UK. The first is road user charging, with the London and
Durham the first to be implemented and the second is a workplace parking levy.
The use of such local hypothecated (or ‘earmarked’) mechanisms is not new.
Indeed a variety of such charges, local taxes and levies have been in use for decades
to fund public transport and (less frequently) as a tool for transport demand
management in the USA, Germany, Austria, Portugal, Scandinavia, India and
Singapore. In the general debate around the two new hypothecated charges in the UK,
this international experience has been largely neglected. The aim of this paper is to
detail a related and equally neglected area namely the local hypothecation of charges
to fund public transport improvements within Britain.
Under existing legislation it has been possible for some local authorities to
dedicate revenue streams from sources such as parking charges and planning gain to
develop and improve public transport services. There is also significant experience of
dedicated revenue streams in the private sector, for example at airports.
The paper details examples of the British experience of hypothecation and will
consider their lessons for the new and more radical measures that are now being
|Description: ||This is a journal article. It was published in the journal, Transportation Research Record [© National Academy of Sciences (USA) ]. The definitive version is available at: http://trb.metapress.com/content/r714176155142681/|
|Appears in Collections:||Published Articles (Civil and Building Engineering)|
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