Transport for London has asked the Treasury for a further half a billion worth of support for the rest of the financial year and for another £1.2 billion next year to “ensure London’s recovery” from the pandemic.
London’s financial paper City AM says documents submitted to the government’s spending review include a commitment from TfL to return to financial sustainability by 2023.
The report says TfL has cut planning spending on enhancements and extensions by £5.7 billion as a result of the “harsh realities” of a collapse in revenues across the network during Covid-19 lockdowns.
“Reduced ridership had a devastating impact on our finances, which we are now rebuilding,” City AM quotes Commissioner Andy Byford as saying. “We are playing a central role in the economic recovery of London and the UK; supporting people as they return to London’s workplaces, businesses, educational institutions, retail and culture, and delivering vital infrastructure and services that support new homes and jobs.”
(Picture – Highways News)