The current TfL funding settlement from Government expires in 9 days’ time on 11 December 2021.
To help to decarbonise the transport network, TfL would need an investment of £70m for the first three years, to support zero emission buses and £125m per year for healthy streets and active travel.
The London Assembly has today called on the Government to provide a new long-term sustainable funding model and to include the £1-1.5bn of additional investment funding each year that TfL requires, as part of the next funding settlement.
Elly Baker AM, who proposed the motion, said:
“London was largely glossed over in the Chancellor’s recent Budget. Transport for London was left out in the cold, despite the fact that it is hanging over a financial cliff-edge due to the pandemic.
“Our transport system urgently needs proper investment from the Government to drive forward the whole country’s economic recovery and boost our efforts to meet legally binding commitments to reach net zero and clean up our air.
“Cities should be empowered by Governments so they can be at the forefront of tackling the climate emergency”.
The full text of the motion is:
This Assembly notes that the Government’s October 2021 Budget and Comprehensive Spending Review confirmed £7bn to level-up urban transport in cities around England, but there was no new funding announced for Transport for London (TfL). Furthermore, the current TfL funding settlement from Government expires in 9 days’ time on
11 December 2021.
The Assembly notes that the TfL submission to the Government’s spending review outlined plans to invest £2.5 - £3bn per year over the long term, to meet the Government’s climate change, levelling up and economic recovery ambitions. To help to decarbonise the transport network, this investment would include £70m for the first three years to support zero emission buses and £125m per year for healthy streets and active travel.
The Assembly believes that if the Government is serious about the UK’s legally binding decarbonisation and air quality commitments then funding must be provided to TfL.
This Assembly therefore calls on the Government to provide a new long-term sustainable funding model and to include the £1-1.5bn of additional investment funding each year that TfL requires, as part of the next funding settlement.
Notes to editors
- Watch the full webcast.
- The motion was agreed by 15 votes for and 7 against.
- Elly Baker AM, who proposed the motion, is available for interviews.
- As well as investigating issues that matter to Londoners, the London Assembly acts as a check and a balance on the Mayor.
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