If we are irresponsible, on the other hand, and we fail to replenish the “fare box”, then we risk disaster. We are coping with the oldest underground train network in the world, and with a city that is growing faster than any other European capital. If people are to have any hope of living near their place of work, we have to supply them with adequate trains, buses and Tubes. We cut costs at every opportunity – selling buildings, introducing automation, axing bureaucracy – but the trouble with a universal fares freeze is that it takes a huge chunk out of the budget. It means indefinitely postponing or cancelling schemes that are essential for growth, such as replacing the clapped-out signalling on the District line, or ordering new trains for the Piccadilly.