Why New York wants to be more like London

William vickreyMTAMTAMTAMTA, an economist, first proposed congestion pricing in 1952 for New York’s subways and later for roads. It has taken decades, some false starts and some stalling, but the idea finally has the green light in the Big Apple. Earlier this month the Metropolitan Transportation Authority (), the agency tasked with implementing congestion pricing, gave the fee-scheme the go-ahead. From May (probably), 21 years after London made a similar move, drivers of cars entering Manhattan’s central business district will have to pay $15. Lorries, depending on their size, will be charged $24 or $36. Taxis will face a $1.25 surcharge per ride, rather than fees every time they enter the zone. Rideshare drivers, such as Uber, will get a $2.50 charge. At night, fees will be 75% cheaper.The hope is that the fees will alleviate traffic. More than 900,000 cars enter what will become the charging zone daily. Travel speeds fell by 23%, to 7mph (11kph), between 2010 and 2018. It is even worse in Midtown, where cars crawl at less than 5mph. The expects 17% fewer vehicles on the city’s streets. This should decrease air pollution and help the economy. The points to a report that claims traffic congestion costs $20bn a year. But the main reason the plan was approved was because the money it should bring in—$1bn annually—is needed for capital projects. These projects should improve reliability as well as access to the transport system. Some of the signalling equipment on the subway dates back to the 1930s.