Transport for London issues update on Government funding

News stories are free to read. Click here for full access to all the features, articles and archive from only £8.99. A Transport for London (TfL) spokesperson has given an update on the support funding it receives from central Government, which is subject to ongoing discussions around making its services more econimically sustainable. A spokesperson said: “We have today (24 June) agreed with the Government that our existing funding agreement will be extended until 13 July 2022 so these discussions can be resumed. Whilst in receipt of Government support, we have worked hard to progress all conditions placed on TfL, and continue to believe that we have met them all. Working together, we must achieve a longer term capital funding settlement that ensures London’s transport network can remain reliable and efficient, can support the jobs and new homes that rely upon it and can support the economic recovery of the capital and the country as a whole. We hope these discussions can be concluded successfully soon.” In addition, Mayor of London Sadiq Khan has responded to the letter published in CBW issue 1531, in which Secretary of State for Transport Grant Shapps MP states that cuts to bus services should be a last resort and that TfL needs to reduce costs and generate revenue.
The Mayor responded by saying: “Contrary to your claims, the proposed bus cuts are related to capital funding. Without a longer-term capital funding deal, TfL is having to redirect its funding sources to pay for the new Piccadilly line and DLR trains, which were committed to before the pandemic. The only way TfL would be able to avoid further reductions to bus services is if the Government provides sufficient capital funding so that this redirection is not necessary.”