Train station barriers

Is all fare between TfL and the Mayor?

27 June 2016

This meeting took place on 28 June 2016. Read the transcript here.

The Mayor of London has made a commitment to freeze Transport for London’s (TfL) fares for four years.  This will cost TfL a reported £640 million[1].

With TfL receiving £2.8 billion less in government funding between 2015 and 2021 than it had forecast[2], this loss of income will create further financial pressures for TfL to manage.

Tomorrow the London Assembly Budget and Performance Committee will examine the financial challenges TfL now faces – including its plans for managing changes to its funding and delivering the Mayor’s manifesto commitments – and what these financial restrictions will ultimately mean for passengers.


The guests are:

  • Ian Nunn, Chief Finance Officer, TfL; and
  • Graeme Craig, Director of Commercial Development, TfL.


The meeting will take place on Tuesday, 28 June from 10.00am in The Chamber at City Hall (The Queen’s Walk, London SE1).

Media and members of the public are invited to attend. The meeting can also be viewed via webcast.

Follow us @LondonAssembly and take part in the meeting discussion using #AssemblyBudget

Notes to editors

  1. Mayoral Press Release. First savings found to fund Mayor’s fares freeze on TfL’s services. 8 June 2016.
  2. TfL, Business Plan 2014.
  3. The agenda and reports are available here
  4. Gareth Bacon AM, Chair of the Budget & Performance Committee is available for interview.  See contact details below.
  5. As well as investigating issues that matter to Londoners, the London Assembly acts as a check and a balance on the Mayor.


For media enquiries, please contact Mary Dolan on 020 7983 4603.  For out of hours media enquiries, call 020 7983 4000 and ask for the London Assembly duty press officerNon-media enquiries should be directed to the Public Liaison Unit on 020 7983 4100.