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Microeconomics Assignment -Congestion charge When driving into central London nowadays, vehicles are subjected to a charge which is known as the congestion charge. The congestion charge came into force on February 17th 2003 and is applicable between the hours of 7am and 6.30pm Monday to Friday excluding bank holiday. The Original purpose and introduction of the congestion charge was to reduce congestion in London which in turn will hopefully reduce pollution and to use the revenue generated from the charge to increase the quality and quantity of London transport system. In this essay I will discuss the positive and negative externalities that have arisen from the congestion charge and whether or not it has been a success When the congestion charge was first introduced in Feb 2003,it main aims were as stated in the congestion charge guidelines document to reduce congestion, make improvements in bus services, improve the journey time for car users and...

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