Only a long-term funding deal for TfL will do

Discussions about the future of Transport for London’s (TfL) finances have been ongoing since the start of the pandemic.

The most recent TfL funding deal is due to run out in December 2021.



The London Assembly has today called on the Government to provide a long-term funding settlement for TfL.

Elly Baker AM, who proposed the motion said:

“It was incredibly disappointing to see TfL refused the long-term funding settlement it needs.

It’s also very concerning that there are demands for long-term cuts to TfL’s budget.

The only reason TfL is facing this financial cliff-edge is because of the pandemic, and what we want to see is it given longer-term funding akin to that given to private operators at the start of the COVID-19 outbreak.



Ministers know that investment in London’s transport network pays dividends to the rest of the country- creating jobs and wealth in other regions. A sustainable funding deal for TfL is fundamental to the recovery of not just London, but the whole country”.



The full text of the motion is:

“This Assembly notes that the three funding deals agreed between the Government and Transport for London (TfL) were only for 6 months each and did not provide any long-term funding certainty.

We further note that all funding agreements have funding conditions attached while private rail companies have received no-strings attached long-term funding settlements.

The Assembly notes that 43,000 people are directly employed by the London Underground Investment Programme, with 68 per cent of these jobs being outside of London.

The Assembly further notes that TfL believe there are in excess of 80,000 people working for organisations with a significant dependency on TfL in the wider supply chain.

The Assembly recalls that in June 2013 the Government provided an unprecedented 6- year settlement for Transport for London from 2015-2021 and we reiterate our calls from 25 February 2021 and 5 November 2020 that the Mayor and the Government need to agree a sustainable, long-term funding settlement for TfL.

We call on the Mayor and the Chair of the Assembly to write to the Prime Minister to remind him of his views on long-term funding settlements for TfL while he was Mayor; highlight how properly funding TfL will support the “levelling up” agenda across the UK; and call on him to provide TfL with a long-term funding settlement.”