TfL funding is extended briefly again



The government has agreed to extend the Transport for London funding settlement again, but only until 28 July.

Mayor Sadiq Khan said the government is yet to put forward any long-term settlement, and that services were still under threat.

He continued: ‘I am growing increasingly concerned that we can’t wait any longer without serious consequences.‘This is a £10 billion transport authority that is crucial to supporting jobs and economic growth. Without a long term funding deal, TfL will have to prepare to make further painful cuts to London’s transport network – its “managed decline” scenario.

‘The devastating impact of the pandemic is the only reason TfL needs financial support. It is now imperative that the Government urgently works with me to agree a fair, long-term funding deal that will protect London’s transport network – not just for the sake of the capital, but the whole country.’

In a statement, Transport for London said it was looking forward to an early long-term agreement.

It added: ‘We have today agreed with the government that our existing funding agreement will be extended until 28 July so these discussions can be continued. Whilst in receipt of government support, we have worked hard to progress all conditions placed on TfL, and continue to maintain that we have met them all. Working together, we must achieve a longer term capital funding settlement that ensures London’s transport network can remain reliable and efficient, can support the jobs and new homes that rely upon it and can support the economic recovery of the capital and the country as a whole.

‘We hope these discussions can be concluded successfully soon.’

source= http://www.railnews.co.uk/news/2022/07/13-tfl-funding-is-extended-briefly.html

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