London Passenger Transport Board

The London Passenger Transport Board was the organisation responsible for local public transport in London and its environs from 1933 to 1948. In common with all London transport authorities from 1933 to 2000, the public name and brand was London Transport. History The London Passenger Transport Board (LPTB) was established pursuant to the London Passenger Transport Act 1933 enacted on 13 April 1933. The bill had been introduced by Herbert Morrison, who was Transport Minister in the Labour Government until 1931. Because the legislation was a hybrid bill it had been possible to allow it to 'roll over' into the new parliament under the incoming National Government. The new government, although dominated by Conservatives, decided to continue with the bill, with no serious changes, despite its extensive transfer of private undertakings into the public sector. On 1 July 1933, the LPTB came into being, covering the "London Passenger Transport Area". The LPTB's financial structure was not the same as that of outright nationalisation, which did not occur until the London Transport Executive was established on 1 January 1948. When the LPTB was formed in 1933, the companies taken over, notably the Underground Group and Thomas Tilling's London operations, were 'bought' partially with cash and partially by the issue of interest-bearing stock – C stock – authorised by the enabling Act, which meant that those former businesses continued to earn yields from their holdings. The board The LPTB had a chairman and six other members. The members were chosen jointly by five appointing trustees listed in the Act: