In a debate with the former Mayor of London, Richard Wellings, Deputy Editorial Director at the IEA, argued that London Underground should be privatised. This would enable taxpayer subsidies to be reduced, as well as bringing much needed entrepreneurship and innovation to the network. In addition, the political pricing of Tube fares would be replaced by commercial pricing - in this way the Underground's endemic congestion problems could be tackled. Dr Wellings also called for the deregulation of London's buses and taxis.
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The Railways, the Market and the Government  by John Hibbs et al.