Boris Johnson, London's new rightwing mayor, is to axe the scheme under which Venezuela provided discounted oil to run the capital's red bus fleet, a deal that funded half-price bus travel for some of the city's poorest residents.
Mr Johnson, a member of the opposition Conservative party, denounced the deal struck by his predecessor with Hugo Chávez, Venezuela's president, as "completely Caracas [crackers]". He said it was an unfair subsidy to London by a country in which many people live in "extreme poverty".
