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Reference:
2022/1040
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Question by:
Elly Baker
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Meeting date:
24 March 2022
The Extraordinary Funding and Financing Agreement for Transport for London (TfL) for the period to 11 December 2021 refers to, “Delivery of further operating efficiencies of at least £300m in 2021/22 through appropriate revenue sources and/ or cost saving initiatives”. However, the 25 February agreement says, “TfL will continue to provide periodic monitoring of the £400m in year savings included in their revised budget for 2021/22”. Can you confirm when the £300m in savings became £400m in savings for 2021/22 and what reasons the Government gave for the increase?