Thanks to Mr. Darling’s masterful intervention over the weekend the pound has again plummeted.  Therefore the $32m annually that Boris has rejected due to his scrapping of the Venezuela deal is now worth:


or about 9% more than when Boris took over.

The oil price is only about $5/barrel more, but with the fall in the value of the pound this translates to about a 14.5% rise.  In other words, upward pressure on bus fares, particularly if the looming recession means ridership falls.

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