# The London Regional Transport (Levy) Order 1988, 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 number of pence in the pound is obtained by the formula
the estimated grant×the ratepayer proportionthe estimated penny rate product of Greater London and accordingly the calculation is:
£190,000,000×0.6563£20,530,875=6.073633;
(2) the unrounded figure is rounded to two places of decimals to give 6.07 pence.

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Source: https://www.legislation.gov.uk/uksi/1988/138/article/5 (the official version)
Page: https://openlegislation.uk/london-regional-transport-levy-order-1988/article-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.