Last Wednesday, I moved the agenda onto jobs, made the commitment to create another 100,000 jobs in London and outlined exactly how I would work with business to see that it happens.

On Monday I told Londoners that in my first term of being mayor they would not face a £100 a month congestion tax.

I'm not against congestion charges in principle but we need to have the public transport alternative in place first. And if we are going to have them, we had better do it properly.

Transport experts say that a proper electronic scheme could barely be introduced before the end of a Mayor's first term. I say get the improvements in first. I believe in carrots before sticks.

I mean, has anyone considered what damage a paper based congestion charge could do to business in London?

Berlin-wall style "Checkpoint Charlies" causing massive queues on London's streets. Hordes of traffic wardens flagging down cars without the right permit, backed up by police officers chasing red tape rather than fighting crime.

I have said that throughout my campaign I will be spelling out my policies in detail. Not hair brained schemes or off the cuff remarks but practical, common sense solutions to the problems we face in London.

I want to make sure Londoners know exactly what I intend to do about the real issues that affect their everyday lives. It's about earning their trust and delivering their priorities.

And there can be no greater priority for Londoners than modernising our transport system. Getting London moving again cannot be achieved overnight. It is a serious problem and it will take serious solutions from London's Mayor.

Take the tube as the best example. I want to see a massive investment in the modernisation of the tube.

When it comes to the Underground, nothing but a serious commitment of massive funds can hope to redress the decades of under-investment and neglect. There is no alternative.

And the need for this could not be any more apparent.

You ask any Londoner about their experience on the tube and they'll tell their own personal horror story:

They'll tell you about the overcrowding, the frequent unexplained delays, the escalators that don't work, the appalling access for disabled people, the fear of crime if you're travelling late at night and if you're on your own.

The case for modernisation is written on the faces of every dissatisfied customer on the Underground. Every parent trying to get their children to school, every commuter who is late for work, every tourist who wonders how on earth Londoners put up with such a poor service in the 21st century.

Londoners want a tube service that is more frequent, more reliable, safer and more comfortable.

Everybody knows that will cost a lot of money after decades of neglect that allowed a massive backlog to build up. I want to get the best possible deal for Londoners - to contain the costs and not take risks with Londoner's money.

We have to choose what is the best way forward. To get my support any scheme must pass my five tests.

It must:

1. Leave the running of the tube unified and in the hands of London Underground.
2. Be completed quickly and on time.
3. Be certified by the HSE as maintaining or improving safety.
4. Provide long term security for the tube and tube users.
5. Offer the best deal for Londoners.

I will set up an independent panel of financial and technical experts to scrutinise each project and advise me whether or not it meets my five tests. If it does I will accept that project. If it doesn't, I will insist on a better deal.

John Prescott has told me that the Government expects the Public Private Partnership proposal will pass my five tests. But if they don't, I will tell the Government they must improve on what is proposed.

We have to make sure that every penny is well spent. And it hasn't been well spent up to now. So we have to learn from experience and for London's investment in the tube it has been a bad experience.

The contract for the Jubilee Line Extension was approved by Steve Norris when he was Minister of Transport for London.

It was a traditional contract. The extension was supposed to cost £2 billion and be completed by March 1998.

It still isn't finished and working properly even now, and so far it has cost £3.5 billion - that's £1.5 billion or 70 per cent more than the original estimate!

At the same time that these scandalous delays and cost overruns were occurring, the Docklands Light Railway was completed two months early and kept to the original estimated cost. This scheme was financed through a Public Private Partnership.

My opponents in this election are all opposed to Partnerships. Steve Norris wants to privatise the tube as his Conservative Government privatised the railways - need I say more.

Ken Livingstone on the other hand wants to continue letting contracts in the traditional way with the capital being raised by the sale of bonds. He says this would be cheaper. The trouble is, it wouldn't be.

PricewaterhouseCoopers analysed the government's PPP proposal and found that because the private sector was carrying the risk through efficiencies alone it would be some £3 billion, or 20 per cent cheaper, than a public sector bond option.

So I believe that the major advantage of the PPP is that if there is a cost overrun, the private sector pays.

But it can have other advantages.

It places a duty on the constructors to maintain the plant and equipment they have installed, which gives them an incentive to do it properly. It also leaves decisions about fares in the hands of the Mayor, and I have made clear that there will be no further increases above the rate of inflation.

Under a system financed by bonds, the Mayor would have to give a commitment to make sure fares were set at a level which covers the debt service on the bonds or resort to higher taxes to make up the difference.

The Mayor would not be independent - the sources of finance would have a say over fares.

Of course, Ken Livingstone says he would freeze fares, but this would cut another £225 million from revenues.

As I said earlier, I want to make sure that whatever projects go ahead give Londoners the best possible deal.

PPP has many attractions and to abandon the present plans now would mean delays in getting work started on the tube.

That's because entirely new specifications would have to be drawn up, followed by protracted contract negotiations. And even then Londoners and not the private sector would be taking the risk - a risk that no talk of penalty clauses and new project management would solve.

Nothing less than a comprehensive, coherent, well thought out strategy for transport will satisfy Londoners. That is why I am unveiling today an ambitious 10 point plan to get London moving again. And a massive investment programme for the tube is just the start of it.

I want to see new lines with the East London Line extension and Crossrail.

The East London extension will be good for London's transport - extending the line to Peckham and Hackney - and good for tackling social exclusion.

The building of the East London line would bring forward the complete modernisation of an "outer circle" orbital line on the edge of the river providing regular services in both directions.

Crossrail will be a new east / west connection, massively increasing capacity on the tube and rail network by some 30 per cent.

Again a radical and ambitious project to take pressure off our existing transport system, building much greater capacity for London's future.

I want to see a metro service for south London transport and tram and light rail schemes in outer London. Train companies offering tube style services in south London - it's about providing a more frequent service and putting the train stations on the tube map when the train companies guarantee a quick and regular service.

I know that outer London gets a bad deal from our transport system and that is why I will investigate the possibility of developing an outer London orbital route.

For the buses, I have made a commitment to provide free bus fares for the under 18s. As well as enabling them to travel all over the city, this would help cut down the school run and help prevent people from dropping out of sixth form.

It can be paid for through better enforcement of the bus lanes, from increased revenue as the buses become more popular, and from the revenue we will raise from penalty fares.

I will make sure buses move much more quickly by enforcing bus lanes and red routes and I want to see more priority routes for the buses. By giving buses priority at traffic lights and major junctions, we can ensure quicker services.

Another headache is that too many roads are dug up too much of the time. As Mayor, I will press for powers to charge utility companies for delays to road works and use the Mayoral powers to see minimum disruption for the ordinary road user.

As London's Mayor, I want to make sure our buses are cleaner - using new fuels and better technology. I want new modern buses and taxis to provide much better access for elderly and disabled people - making our transport system more inclusive.

And I also want to see the introduction of smartcard technology. This could be as revolutionary as the travelcard. It could mean no more queuing on buses and the tube. You could charge up the card over the phone or on the internet, and it automatically deducts the right price from your card. It brings through-ticketing to our buses.

But as well as modernising the tube and the buses, we need an integrated transport system in London.

I want to bring the Thames back to Londoners with more piers for London Transport and other boat services and I want to bring through ticketing to these boat services. The river will never be a main form of transport, but it can be used much more. That's why I'd like to see the Thames brought within the existing travelcard scheme with a new 'River Zone' at a premium rate.

And of course this is not merely a transport issue - it's a health issue too. When I was Secretary of State for Health I saw at first hand the increases in asthma, the lack of exercise comes with relying too heavily on cars. Here I propose a number of initiatives designed to encourage more people to consider alternatives to the car and to improving safety in our city.

• Making cycling safer and easier.
• Support for world squares to give pedestrians bigger share of central London.
• Developing a safe route to school plan for every London school.
• More 20mph zones in consultation with local people.

Over a hundred years ago, London was a great centre for progress. We led the world in terms of industry and commerce. We were the first to have an Underground system.

But in the decades that followed, despite all sorts of improvements in so many ways in our society, London's transport system was neglected and left to decline.

I believe the Mayor has a golden opportunity to begin to reverse that decline. To be a force for modernisation and for progress. To get things done in this great city of ours.

Londoners understand that the new Mayor will have no magic wand. There are no easy solutions or quick fixes. You cannot tackle - overnight - the serious problems we face in London.

Anyone who tells you otherwise is either naïve, plain daft or guilty of saying anything to get elected.

But I believe the Mayor can do a hell of a lot.

That's why with every day of this campaign I am spelling out my policies - on crime, on jobs, on transport. I want Londoners to make a positive vote for me because they trust me to get things done.

Because they trust me to bring people together. To work with business. To make this city of ours a better place.

I believe my 10 point plan for transport is an important part in that.

On May the 4th, Londoners face a big decision. I am confident that I can earn their trust, win their support, in this historic battle for London's future.

Thank you.