A prime example of tax mismanagement:
London’s Bus Rapid Transit (BRT) project was budgeted at $281 million. It is now approaching HALF A BILLION DOLLARS, while we’re getting roughly half of the project that was originally proposed.
PROBLEM #1: NEARLY DOUBLE THE SPENDING.
A project that was pitched, budgeted for and approved at $281 million is now approaching half a billion dollars. When Council approves a project based on a clear budget, that budget has to mean something.
PROBLEM #2: ALMOST DOUBLE THE COST, HALF THE PROJECT.
Despite the massive increase in cost, London isn’t even getting the full BRT system that was originally proposed. We’re spending substantially more while getting roughly half the project
PROBLEM #3: SPENDING ON NON-ESSENTIALS DESPITE OVERRUNS.
I understand that unforeseen circumstances can happen with projects like this and construction costs can rise. But when they do, you prioritize what’s essential and find savings elsewhere within the project. You don’t continue spending $250,000 FOR EACH three-bay bus shelter. That $250,000 figure isn’t hypothetical. It was the reported cost of each of them throughout the city.
