Congestion charges changed in London - commercial mortgages

08 July 2008

In news which could affect people looking for commercial mortgages, mayor of London Boris Johnson has announced that it has ditched plans to introduce a £25 congestion charge for the centre of the capital.

The charge, which would only have applied to the most-polluting vehicles such as 4x4s, was due to take effect in October, but the scheme has now been abandoned following a successful legal challenge by German luxury carmaker Porsche at the High Court.

Plans to impose the £25 charge were originally put forward by Mr Johnson''s predecessor Ken Livingstone, but Mr Johnson had campaigned against the planned levy claiming that it could make congestion and pollution in the city worse by giving smaller, least polluting vehicles a 100 per cent on the congestion charge.

"I am delighted that we have been able to scrap the £25 charge, which would have hit families and small businesses hardest," he declared.

The Association of Greater Manchester Authorities (AGMA) has launched a new 14-week public consultation on controversial plans to introduce a new £5 per day congestion charge system across central Manchester. Some businesses in the area have suggested that congestion charges can boost the property market.