An Olympic-sized Saving : End of the Road for Thames Gateway Bridge

Transport for London scraps plans for six-lane road bridge

London Mayor Boris Johnson scraps scheme amid strong opposition from environmental campaigners

• John Vidal and Dan Milmo
• From The Guardian, Thursday November 6 2008 11.48 GMT

One proposed design for the six-lane east London crossing

Boris Johnson, the London mayor, has shelved £3.5bn of transport schemes in the capital, including the Thames Gateway bridge, as part of multibillion-pound cost cuts.

Johnson said today the move ended the “deception” of his predecessor, Ken Livingstone, who had ordered officials to draw up plans for the Thames Gateway project amid strong opposition from environmental campaigners.

“I am stopping the deception of keeping hopes alive when there is no funding for these schemes,” said Johnson….

What did the Scottish Bankers say to the English Banker ?

Ex-bank chiefs in resignations call

Two former bank chiefs have sent a letter to HBOS calling for its chairman and chief executive to resign. Sir Peter Burt and Sir George Mathewson, former chief executives of the Bank of Scotland and Royal Bank of Scotland respectively, oppose the takeover of HBOS by Lloyds TSB.

Sir George said they had sent the letter to chairman of HBOS, Sir Dennis Stevenson.

In it they say that Sir Dennis and HBOS chief executive Andy Hornby should resign – and that Sir George should become the new chairman of the bank and Sir Peter Burt should be its chief executive.

Speaking from his Perthshire home Sir George said: “It is a lengthy, detailed letter. We do not believe the alternatives to the Lloyds takeover of HBOS have been properly explored.

“And, that this deal was conceived in response to a particular problem and then the world changed a week later. As such that deal is no longer the proper deal for the shareholders of HBOS or anybody else.”

HBOS is the subject of a £12 billion merger with Lloyds TSB.

Lloyds TSB has said that its acquisition of HBOS would save it at least £1.5 billion a year.

But the SNP has been critical of the takeover and believe many Scottish jobs could be lost.

The former bankers want to keep HBOS an “independent bank” and believe that the merger was no longer required after the Government’s bank bailout.

Two former bank chiefs have sent a letter to HBOS calling for its chairman and chief executive to resign.

Sir Peter Burt and Sir George Mathewson, former chief executives of the Bank of Scotland and Royal Bank of Scotland respectively, oppose the takeover of HBOS by Lloyds TSB.

Sir George said they had sent the letter to chairman of HBOS, Sir Dennis Stevenson.

In it they say that Sir Dennis and HBOS chief executive Andy Hornby should resign – and that Sir George should become the new chairman of the bank and Sir Peter Burt should be its chief executive.

Speaking from his Perthshire home Sir George said: “It is a lengthy, detailed letter. We do not believe the alternatives to the Lloyds takeover of HBOS have been properly explored.

“And, that this deal was conceived in response to a particular problem and then the world changed a week later. As such that deal is no longer the proper deal for the shareholders of HBOS or anybody else.”

HBOS is the subject of a £12 billion merger with Lloyds TSB.

Lloyds TSB has said that its acquisition of HBOS would save it at least £1.5 billion a year.

But the SNP has been critical of the takeover and believe many Scottish jobs could be lost.

The former bankers want to keep HBOS an “independent bank” and believe that the merger was no longer required after the Government’s bank bailout…..

© 2008 The Press Association Limited