TfL faces £1billion loss


Reports carried by the BBC and The Financial Times have highlighted the financial crisis faced by Transport for London as a result of declining passenger numbers and the loss of its central government revenue grant. In an internal e-mail, reportedly sent by Patrick Doig, finance director for TfL’s surface transport division, staff are told that a loss of up to £968million is ‘clearly not a sustainable position to be in as an organisation’. TfL’s operational deficit has swollen from £171million in 2012/13 to £458million in 2016/17 and is expected to reach £785million this year.

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