Blackwall and Silvertown tunnels to make £123 million in one year
Sadiq Khan, alongside Transport for London (TfL), aims to generate a minimum of £123 million annually by imposing fees on vehicles using the Blackwall and Silvertown tunnels. According to a reply from the Mayor to the City Hall Conservatives, tolls are planned for both tunnels coinciding with the opening of the Silvertown Tunnel in 2025.
The anticipated revenue for the first complete financial year of operation (April 1, 2025, to March 31, 2026) of these tunnels is £123 million, derived from user charges such as tolls and fines. However, the exact charge amount is still undecided, with TfL considering discount options for local low-income residents.
The funds generated will address the construction and upkeep expenses of these new tunnels, funded by Riverlinx, a private consortium. Any surplus is intended for broader transportation improvements. Revenue estimates will be refined once specific charges are set by TfL.
The Mayor, who also chairs TfL, has expressed optimism that tolls and fines will sufficiently cover these costs. Keith Prince, the City Hall Conservatives’ transport spokesperson, accuses Sadiq Khan of exploiting drivers to rectify TfL’s £15 billion financial shortfall, arguing that motorists already contribute nearly £1 billion in road user charges, including contested ULEZ fees.
TfL asserts that the tolls on the Blackwall and Silvertown tunnels are aimed at managing traffic and reaping anticipated environmental and economic benefits. This strategy aligns with 2012 proposals and fulfills planning consent conditions approved by government ministers in 2018, necessitating TfL to regulate traffic flow and environmental impact. Details regarding the charges and potential discounts will be finalized closer to the tunnels’ 2025 opening.