Borrowing (2)

Meeting: 
MQT on 2015-07-15
Session date: 
July 15, 2015
Reference: 
2015/2247
Question By: 
Tom Copley
Organisation: 
Labour Group
Asked Of: 
The Mayor
Category: 

Question

What is the total value of Transport for London's debt?

Answer

Answer for Borrowing (2)

Answer for Borrowing (2)

Answered By: 
The Mayor

As at 6 July 2015, TfL has £9.15bn of prudential borrowing.

TfL has borrowed these funds over a number of years from several sources, including the Public Works Loans Board, the European Investment Bank and the bond market.

TfL's prudential borrowing programme is used to contribute to capital expenditures for the significant infrastructure projects included in TfL's business plan. This assists TfL to complete projects on time and to budget and to run a safe, reliable, sustainable and accessible service.