LONDON MAYOR Ken Livingstone has called for an additional £81bn to be spent on transport in the capital between now and 2025.
The money would come on top of the £79bn that Transport for London expects to raise from fares and congestion charging over the same period.
Livingstone argued that the cash would generate £180bn in GDP for the UK economy over the next 60 years.
The money will be spent on completing the Tube public private partnership (PPP), building Crossrail, expanding bus services and upgrading the suburban rail network.
The proposals are set out in Transport 2025 - Transport Vision for a Growing World City, which assesses the economic impacts of failing to invest in London's infrastructure.
'By 2025 there will be an extra 4M journeys a day made by London commuters. If met by car travel this would create gridlock.
'We have three years left of our record-breaking ve-year settlement. It is likely that the next spending review will want us to look further ahead and this report gives us this agenda, ' said Livingstone.
The mayor added that after the Tube PPP, Crossrail remained his top priority.
'Without Crossrail, sometime in the third mayoral term we would have to start refusing planning applications [because of transport constraints]. That would be a crippling blow for the city and would offer Paris and Frankfurt the chance to overtake us.'