Transport for London today released its budget which shows the operating deficit almost halved from £968 million to £500 million in 2018/19[1].
Gareth Bacon AM, Chairman of the Budget & Performance Committee, said:
“It’s welcome news that TfL’s finances are moving in the right direction. Faced with increased risk – from economic uncertainties and from Crossrail – putting money in the bank makes sense.
“However, TfL still has a job to do moving people safely around London. We know, for example, that the budget for non-essential road repairs has been halved[2], with a possible impact on vulnerable road users.
“TfL should now look again across its operations and seek out opportunities where loosening the purse strings may make a meaningful difference to the travelling public.”
Notes to editors
- According to TfL press release available here.
- According to figures supplied to the Committee by TfL.
- Gareth Bacon AM, Chairman of the Budget & Performance Committee is available for interview.
- Budget & Performance Committee.
- 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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