TfL ask for more time to consider funding deal

Transport for London’s leaders have asked for more time to look at the detail of a long-term funding deal from central government.

London’s financial paper City AM reports that late last Friday evening the Department for Transport sent the body a proposal which would bring to an end a series of “temporary bailouts and fraught negotiations”, but TfL commissioner Andy Byford yesterday told the network’s board it came through “very late” and was “very complex.”

Byford said that the deal did not represent entirely new money nor was it the three-year deal which TfL has been asking for since the pandemic battered passenger revenues.

As the latest short term funding deal runs out, City AM quotes Byford as telling the board that he would not recommend the deal was accepted “if the offer is less than we need.”

(Picture – Highways News)

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