AGREEMENT BETWEEN LONDON AND PETROLEOS DE VENEZUELA EUROPA

That this House congratulates the Mayor of London on the mutually beneficial agreement between London and Petroleos de Venezuela Europa which provides a 20 per cent. reduction in the fuel bill for London's bus fleet; notes that this arrangement will not in any way increase fuel consumption or carbon emissions; recognises the benefit for up to 250,000 Londoners in receipt of income support in the form of a half price travel concession on buses and trams improving the quality of life some of the least well off Londoners; and welcomes the fact that the deal will give Venezuelan cities access to London's accumulated experience as one of the most successful cities in the world in such fields as public transport, traffic management, environmental protection, the disposal of waste and the development of tourism, improving the prosperity and quality of life for the people of Venezuela.