The UK government has awarded Transport for London £250m in capital funding for the 2024-25 financial year.
The funding letter to TfL says that TfL should not assume any further funding contributions before the next Spending Review, which will cover the period from April 2025. It stresses that TfL should plan prudently for 2025-26 and beyond, noting the fiscal constraints the government is operating within. As part of the deal, TfL is required to set out its plan to maintain and strengthen its finances going forward, while continuing work to reform its pension scheme and seeking efficiencies in its investment programme.
Transport Secretary Mark Harper reignited the war of words between the government and mayor, accusing Sadiq Khan of overseeing poor governance and decision making.
Welcoming the deal, Transport Commissioner Andy Lord said that TfL would need to review its draft business plan, published in early December, to address the impact of the shortfall in funding.
Although new batteryelectric buses continue to enter service, the aspiration of an entirely zero-emission fleet by 2030 is at risk in the absence of government funding. Stagecoach London is currently taking deli…
