The Mayor of London, Sadiq Khan, said: “Late on Friday evening, TfL finally received a proposal for a funding settlement from the Government. This is long overdue – and the inexcusable delay has forced TfL to plan for cuts. While sight of this offer is welcome, we will now need to scrutinise the offer in detail to understand the impact of this offer on Londoners and the wider economy. It is in no one’s interest to have conditions that could damage TfL, unfairly punish Londoners or the economy of our capital city.
“TfL only needs financial support from the Government because it and Londoners followed the Government’s advice, which had a devastating impact on TfL finances. TfL need a sustainable funding deal that prevents the need for painful cuts to London’s transport network. Unless this deal offers fair sustainable funding for our capital city, which contributes £36bn net to the rest of the country, there will be devastating reductions in bus and Tube services, harming both London’s and the national economic recovery.”