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Institute of Transport Administration

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Government agrees conditions-based £1.08 billion funding deal with Transport for London

4 Jun 2021

The government has today (1 June 2021) agreed a third extraordinary funding and financing package for Transport for London (TfL) worth around £1.08 billion, ensuring the continued running of London’s transport network as we progress along the government’s roadmap through the COVID-19 pandemic.

  • funding protects continued running of services in the capital as we recover from COVID-19
  • package ensures TfL will improve efficiency and pursue effective reforms which modernise London’s transport network, including expanding use of automatic train operation
  • deal ensures long term stability of the capital’s transport network by putting TfL on the path to financial sustainability

The settlement will provide financial support until 11 December 2021, ensuring crucial reforms are accelerated to ensure TfL becomes financially sustainable in the long term.

 

Further information:

https://www.gov.uk/government/news/government-agrees-conditions-based-108-billion-funding-deal-with-transport-for-london?utm_medium=email&utm_campaign=govuk-notifications&utm_source=4e1fe2b4-ad90-4762-9e62-bb286a642358&utm_content=daily