“Road pricing” (to use the euphemism) may be a little piece of state-sanctioned extortion favoured by the Manhattan Institute and other supposedly free-market enthusiasts, but these details from a Daily Telegraph story show just how the London “success” has worked:

“Motorists in London have paid more than £677 million since the introduction of the congestion charge in 2003 – but only a fraction of this has been invested in other transport projects. And with Ken Livingstone, the capital’s mayor, planning to extend the zone west into Kensington and Chelsea, opposition politicians claim much of the revenue has been swallowed up in the cost of running the scheme. According to the Greater London Authority’s own figures, the bill for the congestion charge is rising above the rate of inflation, from £120.8 million two years ago to £143.5 million last year. However, setting up the scheme cost an estimated £161.7 million and it is now believed that motorists will have to help find the £103 million to extend it to the West. The London experience will in crease public doubts concerning road pricing. To add to the controversy it has emerged that a large slice of the income made by Transport for London comes not from motorists who pay the charge, but from fines on those who don’t.”

Ridiculous. Scrap it.