TfL “seeking £2bn” bailout

It’s reported Transport for London’s in danger of running out of money within two months unless it gets taxpayers’ money to support it.

London business newspaper City AM reports that it’s got £1 billion in the bank but a collapse in journeys taken and social distancing rules means it is spending £21 million pounds a day more than it’s bringing in through fares.

It says planned projects including the Bakerloo line and DLR extensions plus Crossrail 2 are now in doubt and negotiations with Whitehall for a £2 billion cash injection are ongoing.

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