Call for Long Term Funding Deal for TfL

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TfL cannot plan ahead to efficiently and effectively procure necessary services and investment, without a long-term funding settlement with Government.

Following a meeting last week with TfL senior management, the London Assembly Transport Committee has written to The Rt Hon Grant Shapps MP, Secretary of State for Transport, to stress the urgency of getting a funding deal secured as soon as possible. The current short-term funding deal runs out this Friday.

Caroline Pidgeon MBE AM, Chair of the London Assembly Transport Committee said:

“The continued procrastination over a long-term funding deal for Transport for London is damaging for London’s transport system, for Londoners and for the entire country.

“TfL has not started any new capital enhancement projects since summer 2021, some TfL staff are being redeployed away from paused projects or being released, and no investment is being made in new rolling stock and new projects.

“When the Commissioner of Transport for London confesses that as much as 60 per cent of his time is spent on budgetary matters, you know something is clearly wrong. Officials in the Department for Transport must be similarly consumed with these regular negotiations. There is an inherent inefficiency to this way of working.

“The security of a long-term funding agreement is required urgently, so that TfL can plan and allocate resources, in order to provide Londoners with the reliable and efficient transport network they deserve.

“The moment has come to stop wasting precious time and get on with the job!”

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