London transport budget cut by £225m

Chancellor George Osborne has cut London's transport budget by 12.5% - which equates to about £225m.

London Mayor Boris Johnson pledged the cuts would not lead to a rise in fares, but promised to find savings.

The cuts come into effect in 2015, but some of the upgrades to the Tube network and cycling routes have been safeguarded.

BBC London's transport correspondent Tom Edwards spoke with Richard Hebditch from Campaign for Better Transport, Tass Mavrogordato from Save Holborn Upgrade Campaign, Labour London Assembly Member Val Shawcross and the mayor.