The Commissioner of Transport for London says that it’ll require at least two years of government support, even if it cuts costs, thanks to the effect of Coronavirus and the lockdown.
Andy Byford has told BBC’s Politics London that it “absolutely” will require a subsidy for the next two years.
“Obviously, we will do our bit to cut our costs, we have in the past taken a billion pounds off the cost base, there are further savings baked into this financial sustainability plan,” he said.
“But the frank or stark reality is that without Government support, and with the chaos that Covid and the decimation on our finances that Covid has wrought, we absolutely will be needing financial support in the short term and we’re making a very strong case to Government to achieve just that.”
Transport for London has had two ten-figure bailouts since passenger numbers plunged after the government asked people not to use public transport unless absolutely essential, and enforced the two-metre rule.
(Picture – Sarah Hutton/Highways News)