TfL asks Treasury for more money

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)

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