London Assembly pleads for cash as TfL coffers run dry

The London Assembly is reported to be making a last-ditch effort for money by pleading with the Department for Transport to agree to a long-term funding deal for Transport for London.

London’s financial paper City AM quotes Caroline Pidgeon, chair of the assembly’s transport committee, saying that without a long-term financial deal the public body would be paralysed, as funding is set to expire on Friday.

“Due to the continued short-term funding agreements, TfL cannot plan ahead to efficiently and effectively procure necessary services and investment” she’s written in a letter to transport secretary Grant Shapps. “There is an inherent inefficiency to this way of working.”

Ms Pidgeon’s comments came two days after London mayor Sadiq Khan decided to increase fares by 4.8 per cent from 1 March.

(Picture – Highways News)

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