# The London Regional Transport (Levy) Order 1987, Article 5: Method of calculation


The method of calculation employed in determining the amount in the pound specified in article 3 is as follows—
(1) the unrounded amount in the pound is obtained by the formula
theestimatedgrant×the ratepayer proportionthe estimated penny rate product of Greater London and accordingly the calculation is—
£239,000,000×0·6563£20,186,201=7·7704417pence;
(2) the unrounded amount in the pound is rounded to two places of decimals to give 7·77 pence.

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Source: https://www.legislation.gov.uk/uksi/1987/125/article/5 (the official version)
Page: https://openlegislation.uk/london-regional-transport-levy-order-1987/article-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.