Transport for London’s (TfL) latest funding agreement with the Government to keep public transport services in the capital running expired on 3 August, having been extended repeatedly.
TfL confirmed that it remains in a position to meet its operational and contractual obligations in the near future, but warned that the medium to long term future of transport in London is still at risk without ongoing funding to keep the capital’s services running. The operator said that discussions with the Department for Transport (DfT) are still ongoing.
Andy Byford, London’s Transport Commissioner, said: “Since keeping London moving through the darkest periods of the pandemic we have been making the case to Government that there can be no UK recovery without a London recovery and that there can be no London recovery without a properly funded transport network.
“We are grateful for the support we have received so far, and maintain we have met every condition that has been set by Government as we have worked towards agreeing a multi-year funding settlement that would give certainty to London and to the tens of thousands of jobs across the country that are directly linked to TfL.
“Every other major transport system around the world receives central Government funding, and London needs the same if it is to have a transport network that can continue to support homes, jobs, opportunities and economic growth. The importance of a properly funded transport network, which can offer a viable alternative to car use and can play its part in addressing the climate emergency, has again been highlighted in recent weeks.
“We have previously set out to Government that we would need £927m for the remainder of this year, as well as a long-term capital funding deal to support London’s economic recovery. We are in active discussion with the Government to ensure that the draft funding proposal that they have made is fair and deliverable and can prevent the managed decline of the capital’s transport network. We hope these discussions can be concluded successfully soon.”