Fares (1)

MQT on 2014-12-17
Session date: 
December 17, 2014
Question By: 
Richard Tracey
GLA Conservatives
Asked Of: 
The Mayor


Do you think that every possible efficiency saving has been squeezed out of TfL?


Answer for Fares (1)

Answer for Fares (1)

Answered By: 
The Mayor

TfL is committed to delivering £16bn of cashable efficiencies from 2009/10 up to 2020/21: £4bn of savings have been delivered through to the end of the last financial year (2013/14), with £8bn secured for future years. To balance the Business Plan, a further £4bn still needs to be secured through further management action in the next seven years, so significant further efficiency savings need to be made.

TfL will continue to identify new efficiencies through cost savings and improved operating processes for the benefit of customers and stakeholders, to ensure that every possible efficiency saving has been realised.