Ken Livingston, Mayor of London, has announced that he has signed an agreement with Venezuela's President, and dictator,Hugo Chavez. The sceme will allow London Bus to buy oil from Venezuela at a 20% reduction, thereby effectively subsidising London Bus to the tune of $32million, or £16million.

Ken, as his friends call him said that this subsidy would be used to help some 250,000 poor people in the form of cheaper bus fares.

In return, and this is the classic bit, Ken will dispatch his transport chief Peter Hendy, to set up and office of the mayor in Caracas,who will empart London's expertise in traffic management.

A G8 capital city receiving economic aid from a South Amercian country, very nice.

So as many of you sit in traffic on the M25,A40 to name two you should reflect on the news that your mayor will have an international office. A first in the history of any mayor I would have thought. Additionally when your council tax goes up just remember that running an international office is'nt cheap and Ken needs the money. All this good news comes in the same week that Londons transport plans for the 2012 Olympics were described as vague and lacked urgency, but rather than sit down with the various agencies involved Ken is in Venezuela picking out curtains for the new office.

I know that we have a fair few idiot politicians in Ireland,but this guy takes the biscuit.

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I thought that all buses in London were held by private operators. Why the subsidy on commercial companies?

I read in yesterdays FT that the GDP of London was £487bn, and by 2015 it will be the biggest economic city in the world, with cheap fuel.